Issue - meetings

              That the Council’s Treasury Management Strategy 2015/16 be approved. 

The Corporate Finance Manager introduced the report to present to Council the recommendation of Cabinet in relation to Treasury Management Strategy for 2015/16. 

                          Councillor Aaron Shotton, Leader of the Council and Cabinet Member for Finance proposed the acceptance of the recommendations as outlined within the report.  This was duly seconded by Councillor Bernie Attridge. 

                          In response to a query from Councillor Mike Peers on the borrowing strategy of the Council, the Finance Manager referred Members to the Treasury Management Strategy 2015/16 where the budget implications for 2015/16 borrowing were estimated.  She explained that the estimated total for loan interest paid in 2015/16 was £12.6m based on an average debt portfolio of £276.5m at a weighted average interest rate of 4.53%.  The figures were subject to change as they were based on estimates of the Council’s capital expenditure plans in 2015/16 and would depend on what loans the Council took out.   

              RESOLVED:

              That the Council’s Treasury Management Strategy 2015/16 be approved.