Issue - meetings
2018/19 Treasury Management Outturn Report
Meeting: 16/09/2019 - Council (Item 15)
15 2018/19 Treasury Management Outturn Report PDF 132 KB
The report updates members on Treasury Management activity and confirms that the Council has complied with its Prudential Indicators for 2018/19.
Members are asked to note that this report was noted by the Audit & Standards Advisory Committee on 10 July 2019 and is due to be considered by Cabinet on 9 September 2019. It has been forwarded to Council in compliance with CIPFAs Code of Practice on Treasury Management.
Additional documents:
- 15a. Appendix 1 - Debt and Investment Portfolio Position, item 15 PDF 42 KB
- 15b. Appendix 2 - Prudential Indicators, item 15 PDF 78 KB
- Webcast for 2018/19 Treasury Management Outturn Report
Decision:
AGREED to note the 2018-19 Treasury Management outturn report, in compliance with the CIPFA Code of Practice on Treasury Management.
Minutes:
Councillor McLennan introduced the report from the Director of Finance, which provided an update on Treasury Management activity and confirmed that the Council had complied with its Prudential Indicators for 2018/19. Members noted that the report had been approved and referred on to Council for consideration by Cabinet on 9 September 2019 in compliance with the CIPFA Code of Practice on Treasury Management.
The Mayor then opened the debate inviting other Members to speak on the report.
Councillor S Choudary welcomed what he felt was a good report. In spite of ongoing economic difficulties and the effects of Brexit he noted all the positive aspects highlighted in relation to the management of the Council’s reserves and investment policy but felt there remained scope to consider the level of cash balances being held and how these was managed.
As no further issues were raised Councillor McLennan, in exercising her right of reply, felt it important to clarify that the majority of reserves held were capital rather than revenue in nature. Whilst recognising that the Council was in a relatively healthy financial position she pointed out this had only been achieved because of the prudent financial management approach adopted by the Administration.
The Mayor then put the recommendations to the vote by a show of hands and they were unanimously declared CARRIED.
It was therefore RESOLVED that Council note the 2018/19 Treasury Management Outturn Report in compliance with the CIPFA Code of Practice on Treasury Management.