Council and councillors

(KEY DECISION)

Report No. 128/2017 from the Director for Resources was received.

Mr Della Rocca, Assistant Director - Finance, introduced the report, the purpose of which was to provide Cabinet with how the Council had performed against the Strategy and whether the Council had met key performance indicators.

During discussion the following points were raised:

     i.        Mr Della Rocca confirmed that the only external borrowing that RCC had was a Salix loan of £420K. Consideration had been given to the potential to pay back this loan, but there was no business case to do so at present.

    ii.        The figure for the Enterprise Partnership Loan on page 364, paragraph 3.4.1 of the report was to be amended to £630,000.

   iii.        Cabinet members commented that the Council should look for low risk investments and exercise caution within the next few years.

DECISION

1.    Cabinet NOTED the actual 2016/17 prudential indicators within the report.

2.    Cabinet NOTED the treasury management stewardship for 2016/17.

Reason for Decision

1.    The report summarised treasury management performance in the year and met the requirements set out in the Treasury Management Strategy for 2016/17 linked to the Council’s Budget, Medium Term Financial Plan and Capital Plans.