Decision details

A non-key decision is required to agree the further exploration of debt portfolio restructuring, via the commissioning of an external company to engage relevant parties to assess the potential for more favourable terms.

Any changes recommended by this exploration will be subject to a future key decision.

This exploration supports the Strategic objectives relating to the need to ensure KCC delivers value for money and puts every pound of tax-payer money to good use, and will enable debt to be managed more flexibly to better suit the Council’s long term cash/borrowing needs.

As Cabinet Member for Finance and Traded Services, I agree to

(a)  commission the Council’s Treasury Management Advisors, Arlingclose, at a cost of £150k to explore options and enter into discussions relating to the possible restructuring of KCC’s debt portfolio;

(b)  And to delegate authority to the Head of Finance (Policy, Planning & Strategy) to enter in any agreements or contracts necessary to implement this decision.