Contact: Katherine Davis on 01243 534674 Email: firstname.lastname@example.org
Any apologies for absence that have been received will be noted at this point.
Apologies for absence had been received from Cllr David Palmer.
The committee is requested to approve the minutes of its meeting on 26 November 2020.
The minutes of the meeting held on 26 November 2020 were agreed as a correct record.
The chairman will announce any urgent items that due to special circumstances are to be dealt with under the Late Items agenda item.
There were none.
Declarations of Interest
These are to be made by members of the Corporate Governance and Audit Committee or other Chichester District Council members present in respect of matters on the agenda for this meeting.
There were no declarations of interest relating to business to be transacted on the agenda.
Public Question Time
The procedure for submitting public questions in writing by no later than noon 2 working days before the meetingis available here or from the Democratic Services Officer (whose contact details appear on the front page of this agenda).
There were no questions submitted by Members of the Public.
1.1.That the Committee considers the Treasury Management Policy Statement, the Treasury Management Strategy Statement, the Investment Strategy and relevant Indicators for 2021-22 ;
1.2.That the Committee considers the Council’s Capital Strategy for 2021-22 to 2025-26; and
1.3.That the documents in 2.1 and 2.2 are recommended to Cabinet and Council for approval
The Chairman introduced Mr Mark Caplow to the
meeting to introduce the report which included The Council’s
Treasury strategy and the Draft Capital Strategy. An updated
Appendix, Appendix 2.A had been circulated separately which
outlined an economic update provided by the Councils treasury
advisor. The reports highlighted the Council’s high level
capital and financial intentions, providing a summary of the
Council’s long term investment priorities over the medium
term. Members were advised a glossary of terms had also been
included for reference in addition to details of the key changes
from the previous year listed in Appendix 1.
In response to questions and comments from Members it was advised that:
· Following the economic difficulties faced nationally in 2018 the Council took the decision to change from funding revenue from investment income to funding capital from investment income.
· The Council would have the option to invest in Climate Change Mitigation, as set out in the report, of up to £20m.
· Preference would be given to placing investments with banks or institutions that have demonstrated significant interest in sustainability by being a signatory to the UN Environment Finance Initiative’s (UNEFI) Principles for Responsible Banking/ Investment. This requirement did to apply to the UN public sector.
· The wording of the report would be amended to read “whilst ESG is a desirable objective for treasury investing, it must be ranked behind security, liquidity and yield, as dictate by statute”.
· Figures detailed on page 18 provided information on forecasted cash balances.
· The Members expect that the Council’s Corporate Plan priorities reflect the Environmental aspirations of the Council.
Following discussion it was RESOLVED that:
the Committee considers
the Treasury Management Policy Statement, the Treasury Management
Strategy Statement, the Investment Strategy and relevant Indicators
the Committee considers the Council’s Capital
Strategy for 2021-22 to 2025-26;
c. That the documents in 2.1 and 2.2 are recommended to Cabinet and Council for approval.
That the Committee notes performance against the audit plan for 2020/21.
The Chairman invited Mr Stephen James to the
meeting to introduce the report.
Exclusion of the Press and Public
There are no restricted items for consideration.
It was not necessary to resolve to exclude the press and public from the meeting.
The committee will consider any late items as follows:
a) Items added to the agenda papers and made available for public inspection
b) Items that the chairman has agreed should be taken as a matter of urgency by reason of special circumstances to be reported at the meeting
There were no late items.