Agenda item

The Executive Director, Core Services and Service Director Finance (Section 151 Officer) will submit a joint report reviewing the Treasury Management activities carried out but the Council during 2019/20 in accordance with Statutory Guidance.

The Executive Director Core Services and Service Director Finance (Section 151 Officer) submitted a joint report reviewing the Treasury Management activities carried out by the Council during 2019/20 in accordance with Statutory Guidance.

The report gave details of the following key issues:

·         The overarching strategy for 2019/20

·         The economic summary for the year

·         An update of the Council’s borrowing and investment activities

·         The Council’s Prudential and Treasury Indicators

The Service Director also reported that all the indicators and objectives had been met.

It was noted that the recommendation in relation to the proposed temporary increase in investment limits had been submitted to and agreed by Cabinet.  This recommendation should have been omitted from the report prior to submission to this Committee and this was an oversight for which an apology was offered.  The Director of Finance would try to ensure that all reports submitted to future meetings were amended accordingly and that recommendations reflected the decisions that this Committee was being asked to make.

RESOLVED:

(i)            That the latest expectations for interest rates (as outlined within Section 4 of the report) and the borrowing and investment strategies (as outlined within Sections 5 and 6) for 2019/20 be noted; and

(ii)          That the Prudential and Treasury Indicators detailed within Appendix 1 be noted.