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 2017/18 for the first six months of 2017/18.

The Council considered the Treasury Management report to 30^th September 2017, presented in accordance with the CIPFA Treasury Management in the Public Services: Code of Practice.  The report gives details of performance against the Council’s Treasury Management Strategy and Annual Investment Plan 2017/18 for the first six months of 2017/18.

On a motion from Councillor Charles Gerrish, seconded by Councillor Andy Furse, it was

RESOLVED (unanimously) to agree that

1.  the Treasury Management Report to 30th September 2017, prepared in accordance with the CIPFA Treasury Code of Practice, is noted; and

2.  the Treasury Management Indicators to 30th September 2017 are noted.

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 2017/18 for the first six months of 2017/18.

Councillor Charles Gerrish introduced the report explaining that it had been produced before Bank of England’s rate rise last week.  Nevertheless, an increase of 0.25% in rate rise was in line with expectations.

Councillor Gerrish said that this was a routine report which sets out the satisfactory position of the Council.  Councillor Gerrish highlighted that the average rate of investment return for the first six months of 2017/18 was 0.26%, which was 0.10% above the benchmark rate.  The Council’s Prudential Indicators for 2017/18 were agreed by Council in February 2017 and performance against the key indicators had been presented in the report.  All indicators were within target levels.

Councillor Charles Gerrish moved the recommendations.

Councillor Paul May seconded the motion by welcoming the report.

RESOLVED (unanimously) the Cabinet agreed that:

1)  The Treasury Management Report to 30^th September 2017, prepared in accordance with the CIPFA Treasury Code of Practice, is noted;

2)  The Treasury Management Indicators to 30^th September 2017 are noted.