Issue - meetings

In February 2010 the Council adopted the 2009 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, and to receive a mid year report and 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 2010/11.

Councillor Charles Gerrish in an ad hoc statement said that with world markets in such a state of flux, the Council must be very cautious in its financial management.  He asked whether the debt figures included the Council’s share of the ex-Avon debt.

Councillor David Bellotti proposed the motion.  In response to Councillor Gerrish’s question, he observed that under the previous administration the Council had borrowed £90M on top of the ex-Avon debt.

Councillor Paul Crossley seconded the motion.

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

RESOLVED (unanimously):

(1) To NOTE the 2010/11 Treasury Management Annual Report to 31st March 2011, prepared in accordance with the CIPFA Treasury Code of Practice;

(2) To NOTE the 2010/11 actual Treasury Management Indicators.