Agenda item

(The report and recommendations of the Audit & Corporate Governance Committee will follow after its meeting to be held on 29^th February 2024.  The report and Treasury Management Strategy is published with the supplementary agenda for that meeting).

It was moved by Councillor O’Kelly,

Seconded by Councillor Smith,

a.  “Approve the Treasury Management Strategy (TMS) for 2024/25 at Appendix 1 including:

  i.  the Annual Investment Strategy for 2024/25

  ii.  the Annual Borrowing Strategy for 2024/25

  iii.  Minimum Revenue Provision Policy Statement for 2024/25

  iv.  the Prudential Indicators for the period 2024/25 to 2026/27

  v.  the Capital Strategy for the 2024/25

b)  Approve that regular training be provided for all Members on Treasury Management and its context within the overall finance framework of the Council, as recommended by the Audit and Corporate Governance Committee following consideration of the strategy at its meeting on 29 February 2024.”  

(Councillor W.Sabah re-joined the meeting)

The meeting was adjourned at 8.45pm and restarted at 8.50pm.

The recommendations were put and carried and, in accordance with the Local Authorities (Standing Orders) (England) (Amendment) Regulations 2014, a record of the vote was taken as follows:-

There voted for the recommendations:-

Councillors E.Ahmed, I.Ahmed, Bedi, Chahal, Dauti, Dhillon, Iftakhar, Kelly, Khawar, Manku, Mohindra, Muvvala, Naveed, O’Kelly, Rana, Satti, Shaik, Smith, Stedmond, Tomar, Wright and Zarait ……………………………..  22

There abstained from voting:-

Councillors Ajaib, Akram, Anderson, Carter, Dar, Escott, Gahir, Gill, Instone, Mann, Matloob, Mohammad, Nazir, Parmar, Qaseem, W.Sabah and The Worshipful, The Mayor Councillor Abbasi ……………………………...…  17

Resolved  -

a.  That the Treasury Management Strategy (TMS) for 2024/25 at Appendix 1 be approved including:

  vi.  the Annual Investment Strategy for 2024/25

  vii.  the Annual Borrowing Strategy for 2024/25

  viii.  Minimum Revenue Provision Policy Statement for 2024/25

  ix.  the Prudential Indicators for the period 2024/25 to 2026/27

  x.  the Capital Strategy for the 2024/25

b)  That regular training be provided for all Members on Treasury Management and its context within the overall finance framework of the Council.