Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
The Cabinet gave consideration to a report of the Director of Finance which provided the Cabinet with details of the performance of the Treasury Management function of the Council for the first half of 2020/21 and provided a comparison of performance against the 2020/21 Treasury Management Strategy and Prudential Indicators.
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). This report set out the key Treasury Management issues for Members’ information and review and outlined:
· An economic update for the first six months of 2020/21;
· 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 2020/21;
· A review of the Council’s borrowing strategy for 2020/21;
· Why there has been no debt rescheduling undertaken during 2020/21; and
· A review of compliance with Treasury and Prudential Limits for 2020/21.
RESOLVED – That:
1. Treasury Management activity for the first half of the financial year 2020/21 and the projected outturn position be approved and commended to Council.
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 be approved and commended to Council.
3. Amendments to the Capital Financing Requirement (CFR) as set out in the table at section 2.4.5 be approved and commended to Council.
Publication date: 20/11/2020
Date of decision: 16/11/2020
Decided at meeting: 16/11/2020 - Cabinet
Effective from: 25/11/2020