Agenda item

Treasury Management Strategy 2018-19

Minutes:

Details of the Treasury Management Strategy (TMS) for 2018/19 were outlined, which included the financing and investment activity for the forthcoming financial year. It was highlighted that the Chartered Institute of Public Finance and Accountancy’s (CIPFA) Code of Practice recommended that a local authority’s total debt should be lower than its highest forecast for Capital Financing Requirement over the next three years. It was noted that the highest forecast of CFR during the next three years for Slough was £584m and the total debt for 2018/19 was forecast to be £424m and the Council would therefore comply with the recommendation.

 

Responding to an increase of £32m in the borrowing strategy during 2017/18, the Service Lead, Finance informed the meeting that although income from capital receipts, grants and Section 106 Agreements contributed towards the  capital programme, the shortfall was made up from the borrowing strategy.

 

A Member asked to what the potential impact of Brexit was likely to have on interest rates. It was noted that no major changes were anticipated to interest level rates until 2020 although a degree of uncertainty would always remain with capital investments.

 

Members were reminded that the TMS would be considered by Cabinet on the 5th February with a view to recommending it to Council meeting on 22nd February 2018. 

 

Resolved  That details of the Treasury Management Strategy 2018/19 be noted.

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