Agenda item

The Assistant Director Finance & Audit introduced a report that sought the comments of the Committee on the Council’s Treasury Management Strategy 2017/18.  The Strategy would be considered by the Cabinet on 6^th February, and if agreed would be recommended to full Council on 23^rd February 2017.

The Council currently had £209m of borrowing and between £72m and £82m in investments on average throughout the year.  There were no significant changes to the strategic approach undertaken in the previous year in relation to treasury management.  The Committee asked a number of questions about the level of borrowing and it was confirmed that borrowing had increased by £32m in the previous year with an additional £23m of borrowing planned for 2017/18.  The Committee received assurance that the strategy was carefully assessed to consider the most appropriate way to finance borrowing from internal balances, short term or long term borrowing and the Council was assisted by its external treasury management advisors Arlingclose.

The strategic acquisitions strategy was raised including the rationale for investing in out of borough assets.  The Assistant Director stated that there was a clear and robust process undertaken to assess potential acquisitions.  Purchasing assets outside of Slough would be appropriate where they could generate a higher yield and additional revenue to the Council.  The Committee also discussed the links to the capital strategy, importance of Slough Urban Renewal and future treasury management outlook and challenges post-Brexit.  At the conclusion of the discussion the report was noted.

Resolved –  That details of the Treasury Management Strategy 2017/18, as set out in the report, be noted.