Issue - meetings

2017/18 Treasury Management Outturn Report

Meeting: 12/09/2018 - Cabinet (Item 11)

11 2017/18 Treasury Management Outturn Report pdf icon PDF 123 KB

The report updates members on Treasury Management activity and confirms that the Council has complied with its Prudential Indicators for 2017/18.

Additional documents:

Decision:

RESOLVED that Cabinet requested the 2017/18 Treasury Management Outturn Report to be forwarded to Full Council, in compliance with CIPFA’s Code of Practice on Treasury Management (the Code).

Minutes:

Councillor Margaret McLennan, Deputy Leader of the Council, introduced the report stating that the Council’s treasury management activity was underpinned by the Code, which required authorities to produce annually Prudential Indicators and a Treasury Management Strategy Statement on the likely financing and investment activity. She stated that the Code also recommends that members are informed of treasury management activities at least twice a year.

 

Councillor McLennan stated that this report fulfils the Council’s obligation under the Local Government Act 2003 to have regard to both the CIPFA Code and the CLG Investment Guidance.

 

She informed Cabinet that the Council had borrowed money over the long term to support investment in the Council’s infrastructure and also invests cash balances held for short periods. She continued to say that it was therefore exposed to financial risks including the loss of invested funds and the revenue effect of changing interest rates. Councillor McLennan stated that the successful identification, monitoring and control of risk are central to the Council’s treasury management strategy.

 

RESOLVED that Cabinet requested the 2017/18 Treasury Management Outturn Report to be forwarded to Full Council, in compliance with CIPFA’s Code of Practice on Treasury Management (the Code).