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 for 2014/15.

The Council considered a report giving details of performance against the Council’s Treasury Management Strategy and Annual Investment Plan for 2014/15.

On a motion from Councillor Tim Warren, seconded by Councillor Paul May, it was

RESOLVED (unanimously)

1.  To agree that the 2014/15 Treasury Management report to 31^st March 2015, prepared in accordance with the CIPFA Treasury Code of Practice, is noted; and

2.  To note the 2014/15 Treasury Management Indicators.

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 for 2014/15.

The Chair invited Councillor Andy Furse to make an ad-hoc statement.

Councillor Furse asked for an assurance that the Council would not include any banks from Portugal, Ireland, Italy, Greece and Spain.  He also said that the Council should monitor what would be happening in the Eurozone in the next 48 hours and what impact that would have on our investment in that market.

Councillor Charles Gerrish said that 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 for 2014/15.  Councillor Gerrish replied to points raised by Councillor Furse by saying that the Council would be kept abreast of all those issues raised.

Councillor Gerrish moved the recommendations.

Councillor Marie Longstaff seconded the proposal.

Councillor Longstaff said that the report shows that the Council would continue to be prudent in their investment strategy, with most investments on main UK banks, AAA rated Money Market Funds and highly rated foreign banks with emphasis on security and liquidity. 

On a motion from Councillor Charles Gerrish, seconded by Councillor Marie Longstaff it was:

RESOLVED (unanimously) that:

1)  The 2014/15 Treasury Management Report to 31^st March 2015, prepared in accordance with the CIPFA Treasury Code of Practice, is noted.

2)  The 2014/15 Treasury Management Indicators are noted.