Issue - meetings

This report gives details of performance against the Council’s Treasury Management Strategy and Annual Investment Plan for 2019/20.

The Council considered the Treasury Management Outturn report 2019/20.

On a motion from Councillor Richard Samuel, seconded by Councillor Mark Elliott, it was

RESOLVED unanimously

1.  To note the Treasury Management Report to 31^st March 2020, prepared in accordance with the CIPFA Treasury Code of Practice; and

2.  To note the Treasury Management Indicators to 31st March 2020.

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 2019/20.

The Chair invited Councillor Richard Samuel to introduce the report.

Councillor Richard Samuel introduced the report by saying that this was a positive report which has shown that the management of the Council's finances was stable and well run.  Councillor Samuel used this opportunity to thank Andy Rothery and his staff for the presentation of this report.  Councillor Samuel said that this report included details of performance against the Council’s Treasury

Management Strategy and Annual Investment Plan for 2019/20.  Councillor Samuel also said that the same report would be presented to the Full Council meeting on 23^rd July and highlighted the following sections in the report: summary of returns and borrowings, strategic and tactical decisions, future strategic and tactical issues, PWLB borrowing rate increase, and budget implications.

Councillor Richard Samuel moved the recommendations.

Councillor Kevin Guy seconded the motion by thanking Councillor Samuel and the officers for an excellent financial management during this challenging year. 

Councillor Sarah Warren welcomed the report, in particular the progress that has been made towards disinvesting the treasury management fund from fossil fuel funds.

Councillor Tim Ball also thanked the officer for the report, and also praised the officers within his portfolio for delivering great services during this difficult year.

RESOLVED (unanimously) that the Cabinet agreed to:

2.1  The Treasury Management Report to 31st March 2020, prepared in accordance with the CIPFA Treasury Code of Practice, is noted.

2.2  The Treasury Management Indicators to 31st March 2020 are noted.