Issue - meetings

This report gives details of performance against the Council's Treasury Management Strategy and Annual Investment Plan 2013/14 for the first 9 months of 2013/14

Councillor Bellotti in proposing the item said that this report was about how much the Council borrowed and where it invested its money. The Council still had a borrowing requirement of just over £200m for capital projects, but because it was funding some of this from cash flow, it should not be necessary to reach the borrowing requirement.  Bath and North East Somerset had never invested in risky propositions. Unlike other councils it had not invested in Iceland, for example. It did not even lend to countries in the Eurozone.

Councillor Crossley seconded the proposal. He said that the report showed that the Council was practising sound finance based on sound principles, and for that the Council’s outstanding finance team had to be congratulated.

On a motion from Councillor Bellotti, seconded by Councillor Crossley it was

RESOLVED unanimously

(1)  to note the Treasury Management report to 31^st December 2013, prepared in accordance with the CIPFA Treasury Code of Practice; and

(2)  to note the Treasury Management Indicators to 31^st December 2013.