Issue - meetings

This report updates Members on recent treasury activity. Cabinet is asked to

note the 2016/17 mid-year Treasury report, which has already been reviewed

by the Audit Committee and is to be forwarded to the Council.

RESOLVED:-

      i.        Cabinet noted the 2016/17 mid-year Treasury report, which has already been reviewed by the Audit Committee and is to be forwarded to the Council.

Councillor Margaret McLennan, Deputy Leader of the Council, introduced the report stating that the Council’s Treasury Management Strategy is underpinned by the adoption of the Chartered Institute of Public Finance and Accountancy’s (CIPFA) Code of Practice on Treasury Management 2011, which includes the requirement for determining a treasury strategy on the likely financing and investment activity for the forthcoming financial year.

The Code also recommends that Members are informed of Treasury Management activities at least twice a year. This report therefore ensures this authority is embracing best practice in accordance with CIPFA’s recommendations.

Councillor McLennan stated that in addition to reporting on risk management, the Code requires the Authority to report on any financial instruments entered into to manage treasury risks.

RESOLVED:-

      i.        Cabinet noted the 2016/17 mid-year Treasury report, which has already been reviewed by the Audit Committee and is to be forwarded to the Council.