Decision details

Brent Council Borrowing Strategy 2018/19 - 2020/21

Decision maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

Strategy for Borrowing

Decision:

RESOLVED:

(i)            Cabinet noted the Council’s balance sheet analysis and estimated borrowing need as set out in section 5;

 

(ii)          Cabinet approved the borrowing strategy as set out in the report including the commencement of negotiations to agree a forward funding loan of up to £40m. See section 6;

 

(iii)         Cabinet noted that the actions recommended above were within the operational boundaries already agreed by Full Council when setting the Treasury Management Strategy for 2018/19 as part of the budget setting process; and

 

(iv)         Cabinet noted that a copy of this report had been presented to the Audit and Standards Advisory Committee in July for review and consideration. The comments the Audit and Standards Advisory Committee were shown in paragraph 1.6.

 

Reason Key: Affects more than 2 wards;

Wards Affected: (All Wards);

Contact: Daniel Omisore, Head of Finance -Capital Conrad Hall, Chief Finance Officer, Email:  conrad.hall@brent.gov.uk; Tel: 0208 937 6528  daniel.omisore@brent.gov.uk Tel: 020 8937 3057.

Report author: Daniel Omisore

Publication date: 13/09/2018

Date of decision: 12/09/2018

Decided at meeting: 12/09/2018 - Cabinet

Effective from: 20/09/2018

Accompanying Documents: