Agenda item

The Chief Finance Officer (CFO), Philip Naylor, introduced the report which gave details of the necessary statutory requirements governing Treasury Management functions and asked Members to approve:

1) An over-arching Treasury Management Policy Statement.

2) An Annual Treasury Management and Investment Strategy.

The Annual Treasury Management and Investment Strategy incorporated the requirement to set appropriate Prudential Code indicators and limits, and approve a Minimum Revenue Provision policy.

In response to Members’ queries the CFO explained how the borrowing was funded for the Warslow Estate tenancy refurbishment referred to in Appendix 2 of the report and clarified the reference to Standing Orders Section K made in Appendix 1 of the report.  He also stated that there were no intermediaries involved in the list of approved lending in Schedule C of Appendix 3 of the report.

The recommendation to approve the proposals was moved, seconded, put to the vote and carried.

RESOLVED:

1.    To approve the Treasury Management Policy Statement in Appendix 1 of the report.

2.    To approve the Annual Treasury Management and Investment Strategy in Appendix 2 of the report, with specific approval of the Prudential Indicators and borrowing limits (paragraphs 5-13 of the appendix), and the policy on Minimum Revenue Provision (paragraphs 14-15 of the appendix), and adopt the Investment Strategy of North Yorkshire County Council (Appendix 3 of the report).