Decision details

To take the following urgent decision:

That:

(1)      the Treasury Management Strategy at Appendix 1 be approved;

(2)      the authorised borrowing limit be approved at:-

a)       2020/21 £150m

b)       2021/22 £150m

c)        2022/23 £150m

the prudential indicators set out in section two of the strategy be approved.

Ordinarily this decision would be taken by Council, however, an urgent decision is being taken by the Managing Director because it is not possible for Council to meet due to the restrictions resulting from the covid-19 outbreak and it is necessary to have an approved strategy in place.

The reasons for approving the Treasury Management Strategy 2020/21 are set out in the report previously prepared for Council.

The Managing Director could not take the decision and instead wait until Council is able to meet, however, it is not currently clear when this may be, and the decisions must continue to be made to ensure the day to day business of the council can continue.

The options explored in respect of the Treasury Management Strategy 2020/21are set out in the report previously prepared for Council.