Issue - meetings

Treasury Management 2019/20 Outturn Report

Meeting: 07/09/2020 - Cabinet (Item 10)

10 Treasury Management 2019/20 Outturn Report pdf icon PDF 123 KB

This report provides an update on Treasury Management activity and confirms that the Council has complied with its Prudential Indicators for 2019/20, and seeks approval for its progression to Full Council.

Additional documents:

Decision:

Cabinet RESOLVED to:

 

(1)      Note the 2019/20 Treasury Management outturn report and approve its referral to Full Council, in compliance with CIPFA’s Code of Practice on Treasury Management (the Code).

 

(2)      Note that for 2019/20 the Council had complied with its Prudential Indicators, which were approved by Full Council on 25 February 2019 as part of the Council’s Treasury Management Strategy Statement and Capital Strategy Statement.

Minutes:

The Deputy Leader and Lead Member for Resources, Councillor Margaret McLennan, introduced the report which summarised the treasury management activity for the 2019/20 financial year, and provided confirmation that the Council was in compliance with its prudential indicators. Cabinet’s attention was drawn to the following points: 

 

·                The improved net borrowing position of the Council in relation to its Capital Financing Requirement;

·                The diversification of investment options with borrowing having taken place from a private placement for the first time in response to more favourable interest rates and in order to reduce the reliance on the Public Works Loan Board;

·                Final payment having been received in recovery of the Council’s investments following the Icelandic Bank’s collapse.

 

Cabinet RESOLVED to:

 

(1)       Note the 2019/20 Treasury Management outturn report and approve its referral to Full Council, in compliance with CIPFA’s Code of Practice on Treasury Management (the Code).

 

(2)       Note that for 2019/20 the Council had complied with its Prudential Indicators, which were approved by Full Council on 25 February 2019 as part of the Council’s Treasury Management Strategy Statement and Capital Strategy Statement.