Issue - meetings

This report updates Members on recent treasury activity.

that the 2013/14 mid-year Treasury report as also submitted to the Council and Audit Committee be noted.

Councillor R Moher (Lead Member, Resources) updated members on recent treasury activity. She highlighted the current position on Icelandic Bank loans and was pleased to report that £4m of the original £5m deposit to Glitner had been received and a further £1m remained ring fenced awaiting a decision. On Heritable, only £0.6 of the original £10m deposit remained outstanding. No losses were expected.

The Chief Finance Officer concurred that the council could be more optimistic than previously but no guarantees could be absolute.

RESOLVED:

that the 2013/14 mid-year Treasury report as also submitted to the Council and Audit Committee be noted.