Issue - meetings

This report gives details of performance against the Council’s Treasury Management Strategy and Annual Investment Plan 2017/18.

The Council considered a report giving details of performance against the Treasury Management Strategy and Annual Investment Plan 2017/18.

On a motion from Councillor Charles Gerrish, seconded by Councillor Paul May, it was unanimously

RESOLVED

1.  To note the Treasury Management report to 31^st March 2018, prepared in accordance with the CIPFA Treasury Code, is noted;

2.  To note the Treasury Management Indicators to 31^st March 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.

NOTE: Councillor Mark Shelford had left the meeting at this point (4.45pm).

Councillor Paul May introduced the report by saying that the average rate of investment return for 2017/18 was 0.30%, which was 0.04% 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 was shown in the report, and all indicators were within target levels.  Councillor May also highlighted a summary of returns, a summary of borrowings, strategic and tactical decisions, future strategic and tactical issues and budget implications.

Councillor Paul May moved the recommendations.

Councillor Tim Warren seconded the motion by welcoming that the average rate of investment return for 2017/18 was 0.04% above the benchmark rate.

RESOLVED (unanimously) that the Cabinet agreed to:

1)  The Treasury Management Report to 31st March 2018, prepared in accordance with the CIPFA Treasury Code of Practice, is noted;

2)  The Treasury Management Indicators to 31st March 2018 are noted.