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ITEM CG6 - ANNEX 1

EXECUTIVE – 17 FEBRUARY 2004

TREASURY MANAGEMENT STRATEGY FOR 2004/05

Prudential Indicators for 2004/05 – 2006/07

The following prudential indicators are relevant for the purposes of setting an integrated treasury management strategy.

Upper Limit for Fixed Interest Rate Exposure

The limit on principal sums borrowed at fixed rates less principal sums invested at fixed rates as a percentage of net borrowing. The proposed limits for 2004/05 to 2006/07 are:

Fixed Interest Net Borrowing Upper Rate 100%

Variable Interest Net Borrowing Upper Rate 25%

Total principal sums invested for longer than 364 days

Oxfordshire County Council has no in-house principal sums invested for longer than 364 days. The proposals are for long-term investments through our external fund manager, to be limited to £17m in 2004/05, £18m in 2005/06 and £19m in 2006/07.

Maturity Structure of Borrowing

The proposed limits for the maturity structure of the Council’s borrowing for 2004/05 to 2006/07 are shown below. The limits will allow flexibility in our borrowing strategy to reflect changes in market conditions.

Maturing Period:-

Lower Limit %

Upper Limit %

Under 12 months

0

15

12 months – 24 months

0

20

24 months – 5 years

0

30

5 years – 10 years

10

40

10 years +

50

90

 

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