Agenda item

The Executive Director Core Services and Service Director Finance (Section 151 Officer) will submit a joint report that was considered by Cabinet on the 28^th November and to be considered by Council on the 29^th November, 2018 reviewing the Council’s Treasury Management and Leasing Activities during the second quarter of 2018/19 in accordance with the CIPFA Treasury Management Code and the CIPFA Prudential Code.

The Executive Director Core Services and the Service Director Finance (Section 151 Officer) submitted a joint report for information and reference which had been considered by the Cabinet on the 28^th November, 2018 and by the Council on the 29^th November, 2018 reviewing the Council’s Treasury Management and Leasing Activities during the second quarter of 2018/19 in accordance with the CIPFA Treasury Management Code and the CIPFA prudential Code.

In the ensuing discussion particular reference was made to the following:

·         It was noted that a training/awareness session had been held on this topic following a request by members of the Committee

·         The Executive Director Core Services drew Members attention specifically to the changes in counter party limits that had been approved by the Council on the 29^th November, 2018

·         In response to questioning, the Acting Head of Financial Services (Corporate) and Deputy Section 151 Officer informed the Committee of the Council’s approach to the future Investment Strategy and particularly in relation to the drawing down of funds and investment in order to maximise income

·         Reference was made to the arrangements in place in relation to borrowing from the Municipal Bonds Agency.  It was noted that whilst this gave to Authority a potential option for the future this had, to date, not been taken up in view of the low interest levels which meant that alternative borrowing options were more favourable

·         In relation to the Future Outlook, reference was made to the current projections and phasing for borrowing over the next three years which would comprise a combination of both planned capital investment (to be funded from borrowing), maturing loans and use of reserves

RESOLVED  that the report be received.