To consider a report and the recommendations of the Audit Committee on the above.

The Council considered the submitted report in relation to the proposed Treasury Management Strategy for 2012/13 which incorporated the Annual Investment Strategy for 2012/13 and the Annual Minimum Revenue Provisional Statement.  It was noted that the Strategy aimed to support all Council services by the management of the Council’s cash flow, debt and investment operations and effectively control the associated risks.  The formulation of the strategy was a requirement of the CIPFA Code of Practice in Treasury Management and the Council’s Treasury Management Policy.

The Audit Committee reviewed the submitted report at its meeting held on 25 January 2012 and they endorsed the recommendations to the Council.

It was proposed by Councillor Tyerman and seconded by Councillor Hill:

(i)         that the Treasury Management Strategy for 2012/13 (incorporating the Annual Investment Strategy 2012/13) as set out in the submitted report be approved;

(ii)        that, in line with the Council’s Constitution and Financial Regulations:

(a)       the Chief Finance Officer be authorised to take any decisions on borrowing and investments. (Delegations to the Section 151 Officer, paragraph 3.1(a)); and

(b)       the Chief Finance Officer be authorised to invest temporarily or utilise surplus monies of the Council; (Financial Regulations, paragraph 14.5); and

(iii)       that the Annual Minimum Revenue Provision Policy Statement for 2012/13 as set out in Annex 7 to the submitted report be approved.

On being put to the vote, the motion was declared carried (unanimous).