Issue - meetings

Report of Director Finance and Commercialisation (S151) detailing a review of Prudential Limits and Treasury Management Midyear as part of the Prudential Framework reporting requirements.

The Committee considered the report of the Director of Finance and Commercialisation (S151 Officer) detailing the Treasury Management activities and performance for 2019/20 to date against the approved Prudential Indicators for External Debt and Treasury Management.

The Committee particularly noted that in relation to the current investment strategy forecast returns with a current weighted average rate was 1.58% with the average being 1.22%. 

The Committee also suggested that it would be beneficial for the Council’s Treasury Management Advisors to do an All Member briefing ahead of the Council’s Budget meeting in 2020.

RESOLVED:

(i)  That the Treasury Management activities for 2019/20 and performance against the Prudential Indicators be noted;

(ii)  That the continued proactive approach to Treasury Management had led to reductions in borrowing costs and safeguarded investment income during the year be noted; and

(iii)  That authority continued to be delegated to the S151 Officer to make any future changes which benefitted the authority and to report back at the next Treasury update.