Decision details

Treasury Management Mid-Year Review Report 2018

Decision status: For Determination

Is Key decision?: Yes

Is subject to call in?: Yes

Decisions:

The Cabinet gave consideration to a report of the Director of Finance which advised them of the performance of the Treasury Management function of

the Council for the first half of 2018/19, and provided a comparison of performance against the 2018/19 Treasury Management Strategy and Prudential Indicators.

 

The Cabinet were informed that the Council was required to consider the performance of the Treasury Management function in order to comply with the Chartered Institute of Public Finance and Accountancy’s (CIPFA) Code of Practice on Treasury Management (revised 2017). The report set out the key Treasury Management issues, for Members’ information and review, and

outlined:

·       An economic update for the first six months of 2018/19;

·       A review of the Treasury Management Strategy Statement and Annual Investment Strategy;

·       The Council’s capital expenditure, as set out in the Capital Strategy, and prudential indicators);

·       A review of the Council’s investment portfolio for 2018/19;

·       A review of the Council’s borrowing strategy for 2018/19;

·       Why there has been no debt rescheduling undertaken during 2018/19;

·       A review of compliance with Treasury and Prudential Limits for 2018/19.

 

Options/ Alternatives considered:-

In order that the Council complied with the Chartered Institute of Public Finance and Accountancy’s (CIPFA) Code of Practice on Treasury Management, the Council had no option other than to consider and approve the contents of the report. Therefore no options/alternatives were been presented for consideration.

 

RESOLVED that the following be approved and commended to Council:

 

1.     Treasury Management activity for the first half of the financial year 2018/19 and the projected outturn position

2.     Amendments to both Authorised Limit and Operational Boundary for external debt as set out in the table at Section 2.4.5 of the report.

3.     Amendments to the Capital Financing Requirement (CFR) as set out in the table at section 2.4.5

4.     Addition to the Treasury Management Strategy 2018/19 with regards to specified investments as presented at Appendix 3.

Publication date: 27/11/2018

Date of decision: 19/11/2018

Decided at meeting: 19/11/2018 - Cabinet

Effective from: 05/12/2018

Accompanying Documents: