To consider a report of the Executive Member for Finance and Governance & Director of Finance and Systems.

The Executive Member for Finance and Governance and the Director of Finance and Systemssubmitted a report which outlined key features of the proposed strategy for the period in question, including in particular: the strategy to be implemented during the period for investments and borrowing; the outlook for interest rates; the management of associated risks; the policy to be adopted on Minimum Revenue Provision (MRP); and Prudential Indicators. It was noted that the report was to be considered by the Executive and Council at their Budget Meetings on 16^th February 2022.

In discussion, Members were advised of Government’s intention to impose greater restrictions in respect of MRP on loan investments. Clarification was also sought, and provided, on the nature of security provided for the Council’s shorter-term investment loans, and the possible impact of the expected increase in interest rates.

RESOLVED – That the content of the report be noted and that it be recommended to the Executive.