Issue - meetings

To receive a report from the Chief Finance Officer providing an update on the Council’s treasury management activity for the second six months of the year, including investment and borrowing activity and treasury performance.

Executive Councillor: J Gray.

The Cabinet has noted the treasury management performance for the second 6 months of 2020/21 and recommended the report to Council for consideration.

With the aid of a report prepared by Chief Finance Officer (a copy of which is appended in the Minute Book) the Cabinet were updated on the Council’s treasury management activity for the second 6 months of the year, including investment and borrowing activity and treasury performance.

Having had their attention drawn to the comments of the Overview and Scrutiny Panel (Performance and Growth) and in noting that activity had been slow to progress over the reporting period, it was

RESOLVED

that the Cabinet note the treasury management performance for the second 6 months of 2020/21 and recommend the report to Council for consideration.

To receive the Treasury Management Annual Report 2020/21.

(Report to follow).

With the aid of a report by the Chief Finance Officer (a copy of which has been appended in the Minute Book) the Treasury Management Annual Report 2020/21 was presented to the Panel by the Executive Leader.

The Managing Director stressed the difficulties that the past twelve months had presented to financial planning. There has been ongoing monitoring of the situation as income streams were not able to be predicted in the usual manner to the unprecedented global and national circumstances.

Following a comment from Councillor Wells regarding the depreciation in value of the Council’s commercial estate, the Panel were advised that this was a national trend as a result of the global pandemic. Further, it was reassured that this will be monitored and assessed in the long term.