Issue - meetings

The Cabinet gave consideration to a report of the Director of Finance which provided details of the Treasury Management Review 2017/18 and demonstrated full compliance with the requirements of both the CIPFA Code of Practice on Treasury Management (the Code) and the CIPFA Prudential Code for Capital Finance in Local Authorities (the Prudential Code).

During 2017/18 the minimum reporting requirements were that the full Council should receive the following reports:

·         an annual treasury strategy in advance of the year (approved 1 March 2017)

·         a mid-year (minimum) treasury update report (approved 13 December 2017)

·         an annual review following the end of the year describing the activity compared to the strategy (this report)

The presentation of this report demonstrated full compliance with the requirements as it provided details of the outturn position for treasury activities and highlighted compliance with the Council’s policies previously approved by Members.

The regulatory environment placed responsibility on Members for the review and scrutiny of treasury management policy and activities. The Audit Committee had this responsibility and it had already scrutinised the report at its meeting of 16 July 2018. The Audit Committee was content to commend the report to Cabinet.

Options/Alternatives considered:-

No alternatives were presented other than Cabinet consider and approve the contents of the report.

RESOLVED that:-

1.    The actual 2017/18 prudential and treasury indicators presented in this report be approved

2.    The annual treasury management report for 2017/18 be approved

3.    The report be commended to Council