Issue - meetings

The purpose of this report is to provide information to members on borrowing and investment activity, and performance compared to prudential indicators during 2010/11. As the Treasury Management Annual Report should be agreed by Full Council, the Executive is asked to recommend it to Full Council for approval. The report will also go to the Audit Committee as part of the scrutiny function required under the 2009 Treasury Management Code of Practice issued by CIPFA.

That Full Council be recommended to:

(i)         approve the Treasury Management Annual Report and Annual Investment Strategy Report;

(ii)        note the outturn for prudential indicators;

(iii)       note the updated position in 2010/11.

Councillor Butt (Lead Member, Resources) introduced the report from the Director of Finance and Corporate Services which set out information on borrowing and investment activity, and performance compared to prudential indicators during 2010/11. As the Treasury Management Annual Report should be agreed by Full Council, the Executive was asked to recommend it to Full Council for approval. The report would also go to the Audit Committee as part of the scrutiny function required under the 2009 Treasury Management Code of Practice issued by CIPFA. Councillor Butt referred to the two deposits outstanding with Icelandic banks which he hoped would be recovered in full.

RESOLVED:

thatFull Council be recommended to:

(i)         approve the Treasury Management Annual Report and Annual Investment Strategy Report;

(ii)        note the outturn for prudential indicators;

(iii)       note the updated position in 2010/11.