Issue - meetings
Mid-Year Treasury Report
Meeting: 10/11/2014 - Cabinet (Item 13)
13 2014/15 Mid-Year Treasury Report 
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This report updates Members on treasury activity during the 2014/15 financial year.
Decision:
That the 2014/15 mid-year Treasury report, which has been presented to the Audit Committee and will also be submitted to Full Council be noted.
Minutes:
Councillor Pavey (Deputy Leader) introduced report from the Chief Finance Officer which provided an update on treasury activity during the 2014/15 financial year. The Chief Finance Officer advised that the situation regarding the return of funds outstanding from Icelandic Banks continued to be monitored. Referring to high levels of interest on loans, the Chief Finance Officer reminded the Cabinet that these were taken out 20-30 years ago when interest rates were higher. Detailed consideration was being given to means of exit however the redemptive premium was prohibitive. The situation may change should interest rates rise.
RESOLVED:
that the 2014/15 mid-year Treasury report, which has been presented to the Audit Committee and will also be submitted to Full Council be noted.