Agenda item

The Executive Director Core Services and Service Director Finance (Section 151 Officer) will submit a report that was approved by Cabinet on the 6^th March, 2019 reviewing the Council’s Treasury Management Activities carried out during the quarter ended 31^st December, 2108 in accordance with statutory guidance.

The Executive Director Core Services and Service Director Finance (Section 151 Officer) submitted a joint report that was approved by Cabinet on the 6^th march, 2019 reviewing the Council’s Treasury Management Activities carried out during the quarter ended 31^st December, 2018 in accordance within statutory guidance.

The report gave details of the following:

·         The agreed Treasury Management Strategy for 2018/19

·         The Economic Summary

·         The Council’s Borrowing activity

·         The Council’s investment activity

·         The Prudential and Treasury Indicators for 2018/19

In the ensuing discussion reference was made to the following:

·         Reference was made to the current position with regard to borrowing and to the advice proffered by the Service Director Finance and Executive Director Core Services in relation to borrowing restrictions particularly given the uncertainty post 2022.  It was noted, however, that there were no issues in relation to the servicing of borrowing

·         There was a discussion of the councils overall spending and particularly in relation to discretional elements.  As previously reported, it was noted that the expenditure on social care and children’s services limited expenditure placed restrictions on expenditure in other areas

·         Concern was expressed at what was perceived as the lack of understanding by local residents of the issues facing the Council in terms of expenditure and of why finance was not readily available for issues/schemes that the public deemed as important.  It was noted, however, that this was kept under review and was addressed in a timely manner by the Councils Communications Service

RESOLVED that the report be received and the current position with regard to Council’s Treasury Management Activities for the quarter ending 31^st December, 2018 be noted.