Decision details

8.22pm - The report and recommendations were moved for adoption by the Leader of the Council, Councillor Stephen Greenhalgh.

The report and recommendations were put to the vote. 

FOR                            28

AGAINST                   0

ABSTENTIONS         11

The report and recommendations were declared CARRIED.

8.23pm - RESOLVED:

1.      That the future borrowing and investment strategies and authorise the Director of Finance and Corporate Services to arrange the Council’s cashflow, borrowing and investments in 2011/12 be approved.

2.      That the additions to the list of institutions to the Council’s restricted lending list noted at paragraph 10.4 of the report be approved.

3.   In relation to the Council’s overall borrowing for the financial year 2011/12, the Prudential Indicators as set out in Section 3 of the report, be approved.

4.   That future amendments to the credit criteria be delegated to Cabinet. 

(Councillor Vaughan announced that he worked for the Financial Services Authority.  He left the Council Chamber during the discussion and did not vote on the report.)