Report No.88/2019

Report No.88/2019 was received from the Strategic Director for Resources. Mr G Brown, Deputy Leader and Portfolio Holder for Planning, Environment, Property and Finance introduced the report, the purpose of which was to show how the Council had performed against the Treasury Management Strategy for 2018/19 as set out in Report No.06/2018.

During discussion the following points were noted:

·         This was a straightforward report which showed there had been no change in approach.

·         The key points to note were that the Council had only invested in approved prudent institutions, there had been no unsupported borrowing for 2018/19, and no external debt had been repaid early as there had not been any financial incentive to do so.

·         The strategy met the CIPFA (The Chartered Institute of Public Finance and Accountancy) Code of Practice and the Council’s own financial rules. 

·         The section on world markets that was included with the report was welcomed by Members.

DECISIONS:

Cabinet:

1.    NOTED the actual 2018/19 prudential indicators within the report.

2.    NOTED that the treasury management stewardship for 2018/19 was in compliance with the treasury management strategy.

Reasons for the decisions:

The report summarises treasury management performance in the year and meets the requirements set out in section 6.