Issue - meetings

TREASURY MANAGEMENT STRATEGY

 

 

Meeting: 28/02/2011 - City Council (Item 105)

105 Budget and Corporate Plan and Proposed Council Tax Levels pdf icon PDF 3 MB

The City Council will be asked to consider the written report of the Director for Corporate Support on the Budget and Corporate Plan, to agree –

 

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the Corporate Plan 2011/14;

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the Corporate Asset Management Plan 2011/15; 

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the 2011/12 Revenue and Capital Budget;

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the Treasury Management Strategy Statement and Annual Investment Strategy 2011/12;

 

 and to determine the Council tax levels for 2011/12.

 

Cabinet Members: The Leader, Councillors Bowyer and Sam Leaves.

CMT Lead Officers: Director for Corporate Support and Assistant Chief Executive.

 

The written reports submitted to Cabinet on 14 December (2011/12 Indicative Budget (Revenue and Capital) Allocated to Corporate Priorities) and on 8 February (Budget and Corporate Plan) can be viewed on the Council’s website at plymouth.gov.uk.

 

To view the Cabinet report of 14 December 2010 on the 2011/12 Indicative Budget (Revenue and Capital) Allocated to Capital Priorities, click on the following link -

 

http://www.plymouth.gov.uk/mgInternet/mgConvert2PDF.aspx?ID=27067

 

To view the Cabinet report of 8 February 2011 on the Budget and Corporate Plan, click on the following link -

 

http://www.plymouth.gov.uk/mgInternet/mgConvert2PDF.aspx?ID=27962

 

Additional documents:

Minutes:

The Director for Corporate Support submitted a written report on the Budget and Corporate Plan. 

 

The City Council considered -  

 

(a)

the Corporate Plan 2011/14 (appendix A);

 

(b)

the Corporate Asset Management Plan 2005 -15 (incorporating the capital programme for 2010/11 – 2014/15) (appendix B);

 

(c)

the medium term capital programme 2010 – 15 (appendix C);

 

(d)

Audit Committee minute 65 of 21 January 2011 -  Treasury Management Strategy Statement and Annual Investment Strategy 2011/12 (appendix D);

 

(e)

Prudential Indicators and updated Treasury Management Strategy Statement and Annual Investment Strategy 2011/12 (appendix E);

 

(f)

Cabinet minute 108 of 8 February 2011 – Budget and Corporate Plan Scrutiny Report 2011, including –

·      Cabinet’s response to Budget Scrutiny recommendations;

·      Overview and Scrutiny Management Board minute 95 of 26 January 2011;

·      scrutiny review report on the Budget and Corporate Plan Scrutiny 2011 (appendix F);

 

(g)

Cabinet minute 109 of 8 February 2011 – Budget and Corporate Plan (appendix G);

 

(h)

gross expenditure and income (appendix H);

 

(i)

proposed Council tax levels (appendix I);

 

(j)

proposed fees and charges (appendix J).

 

CouncillorMrs Pengelly moved, and Councillor Bowyer seconded, the recommendations in the written report of the Director for Corporate Support on the Budget and Corporate Plan (Cabinet minute 109 referred) and commended to the City Council, for approval, the 2011/12 Council Tax Rates, subject to a change to the proposed care leaver allowances 2011/12, to return the Leaving Care Grant to its original figure of a one off payment of £1,193 (to replace the proposal to reduce it to £1,000). 

 

A revised schedule of proposed fees and charges (revised Appendix J) was circulated and Councillor Mrs Pengelly indicated that the budget before the City Council would mean a Council Tax freeze at the 2010/11 levels.  

 

In presenting the proposals, Councillor Mrs Pengelly referred to –

 

(a)

the development of two invest to save projects relating to intensive support for families of young people with autism and intensive parent and child assessments within the community to avoid making costly out of city placements;  

 

(b)

the preparation of options to be brought forward during the coming financial year, to enable the implementation of kerbside glass collection as soon as possible;

 

(c)

 

the creation of a ring fenced growth fund which would maximise opportunities from new funding streams such as the New Homes Bonus, income from the Council’s assets and those of the Council’s partners; 

 

(d)

 

the government’s allocation of additional money for pothole repairs this year and she reported that the Council would be looking at opportunities to add to this allocation. 

 

Councillor Evans responded that -

 

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the proposals attacked low paid workers, part time workers and the most vulnerable; adults and children in care 

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the awards received by the City Council were in relation to buildings funded by the Labour government

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£21m of section 106 monies were owing to the City Council

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there was a need to consider alternative forms of energy

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the anticipated reductions in police had come to fruition

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there  ...  view the full minutes text for item 105

Meeting: 21/01/2011 - Audit and Governance Committee (Item 65)

65 TREASURY MANAGEMENT STRATEGY STATEMENT AND ANNUAL INVESTMENT STRATEGY 2011/12 pdf icon PDF 209 KB

The Director for Corporate Support will submit the Treasury Management Strategy Statement and Annual Investment Strategy for 2011/12.

Additional documents:

Minutes:

The Director for Corporate Support submitted for consideration the Treasury Management Strategy Statement and Annual Investment Strategy 2011/12.  In attendance to present the report to Committee was the Corporate Accountancy and Finance Manager.  Members were advised that the report -

 

(a)

 

outlined how the treasury management function contributed to the Council’s overall policy objectives;

 

(b)

 

set out the risks inherent within the treasury management function and how officers would seek to minimise those risks;

 

(c)

 

identifies the Council’s Prudential Indicators for the next three years as required by the Local Government Act 2003, together with the MRP policy for 2011/12 required under the Local Authorities (Capital Finance and Accounting) (England) (Amendment) Regulations 2008.

 

In response to questions raised, Members were advised that –

 

(d)

 

details of the interest rates being achieved in respect of the Council’s investments were available and would be circulated to Members separately after the meeting;

 

(e)

 

it was difficult to draw a comparison with how Plymouth was performing as many local authorities were still only using the Government’s Debt Management Fund, however, benchmarking of the Council’s performance had been included in the last report and would be included in the next mid-year report to Committee;

 

(f)

 

the banks listed in the report were UK banks or wholly-owned UK subsidiary companies.

 

Agreed that the –

 

(1)

 

Treasury Management Strategy Statement for 2011/12 be approved;

 

(2)

 

Investment Strategy for 2011/12, as outlined in Section 11 of the report, be approved;

 

(3)

 

Lending Organisations and Counter Party Limits, as outlined in appendix D to the report, be approved;

 

(4)

 

Director for Corporate Support, acting under delegated authority in accordance with the Constitution, be requested to keep the lending list under review and updates the list during the year as dictated by market circumstances;

 

(5)

 

following be recommended to Full Council, subject to update following any revision to the capital programme –

 

 

 

(a)

the Prudential Indicators set out in the report;

 

 

 

(b)

the Authorised Borrowing limits of £379m, £376m and £373m for the period 2011/12 to 2013/14;

 

 

 

(c)

the Operational Boundary of £355m, £347m and £334m for 2011/12 to 2013/14;

 

 

 

(d)

the MRP Policy for 2011/12.