Issue - meetings

In February 2012 the Council adopted the 2011 edition of the CIPFA Treasury Management in the Public Services: Code of Practice, which requires the Council to approve a Treasury Management Strategy before the start of each financial year, review performance during the year, and approve an annual report after the end of each financial year.  This report gives details of performance against the Council’s Treasury Management Strategy and Annual Investment Plan 2015/16 for the first three months of 2015/16.

The Cabinet are asked to agree that:

a) The Treasury Management Report to 30th June 2015, prepared in accordance with the CIPFA Treasury Code of Practice, is noted.

b)  The Treasury Management Indicators to 30th June 2015 are noted.

Councillor Charles Gerrish said that this was a routine report and that investment returns continue to be ahead of the benchmark rate.  The Council continues not to hold any direct investments in countries within the Eurozone.

Councillor Charles Gerrish moved the recommendations.

Councillor Michael Evans seconded the proposals by saying that investment rates continue to reflect the Bank of England’s policy on maintaining low interest rates.  The Council’s Treasury advisors had estimated that there would not be an interest rate rise until Q2 of 2016.

RESOLVED (unanimously) that:

1)  The Treasury Management Report to 30th June 2015, prepared in accordance with the CIPFA Treasury Code of Practice, is noted

2)  The Treasury Management Indicators to 30th June 2015 are noted.