Issue - meetings

To consider a report by the Assistant Director, Finance and Resources containing a proposed Treasury Management Strategy, which is required under the Council’s Code of Financial Management.

approved the Treasury Management Policy and Strategy for 2014/15.

By way of a report by the Head of Financial Services (a copy of which is appended in the Minute Book) the Cabinet was invited to consider the contents of the Treasury Management Policy and Strategy for 2014/15.  The documents had been considered by the Overview and Scrutiny Panel (Economic Well-Being) whose comments were relayed to the Cabinet. 

Whereupon, it was

RESOLVED

  that the Council be recommended to approve the Treasury Management Policy and Strategy for 2014/15 as appended to the report now submitted.

To consider the draft 2014/15 Treasury Management Strategy prior to its consideration by the Cabinet.

Councillor J A Gray, Executive Councillor for Resources, was in attendance for this item).

With the assistance of a report by the Assistant Director (Finance and Resources) the Panel considered the contents of the draft Treasury Management Policy Statement and Strategy for 2014/15 (copies of which are appended in the Minute Book). Having been acquainted with each section of the draft Strategy, Members were informed that it now included a new investment opportunity for Pooled Property Funds. Although further research was required before any investment would be considered, it was necessary to include the option within the Strategy in the event that the Council decided to use this investment opportunity in the forthcoming year.

RESOLVED

that the Cabinet be recommended to endorse the draft Treasury Management Policy Statement and 2014/15 Treasury Management Strategy for submission to the Council.

Report of the meeting held on 12th December 2013 - attached.

Councillor J D Ablewhite, Executive Leader of the Council and Chairman of the Cabinet presented the Report of the meetings of the Cabinet held on 21st November and 12th December 2013.

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In connection with Item Nos 28 and 32 and in response to a question from Councillor K J Churchill, the Executive Leader assured Members that the Motion on Notice considered at the last meeting of the Council (Minute No 46 refers) had been dealt with correctly having regard to the knowledge of local ward Councillors in terms of availability of land in St Ives for any potential extra care facility and the Council’s overall concern to address, without undue delay, the needs of the elderly and vulnerable in the town.  The Executive Councillor also confirmed that those residents who might not qualify to return to the replacement facility at Langley Court would be allocated alternative accommodation in St Ives.

Accordingly, upon being put to the vote, the recommendation contained in Item No 28 was declared to be CARRIED.

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The Council received and noted the Annual Report of the Executive Leader containing details of each executive decision taken where the making of the decision was agreed as urgent and adequate notice had not been given as requested.  The outcome of the Cabinet’s deliberations on these items had been previously reported to Council.

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In connection with Item No. 33, it was noted that the recommendation had been considered previously under Minute No. 57.

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In connection with Item No. 34, it was noted that the recommendation had been considered previously under Minute No. 57.

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Whereupon, it was

RESOLVED

  that, subject to the foregoing paragraphs, the Reports of the meetings of the Cabinet held on 21st November and 12th December 2013 be received and adopted.

To consider a report by the Assistant Director, Finance and Resources reviewing the performance for the period 1^st April to 30^th September 2013.

Recommended the review of performance report to Council.

A report by the Assistant Director, Finance and Resources was submitted (a copy of which is appended in the Minute Book) which reviewed the respective levels of performance achieved during April to September 2013 by external fund managers in the matter of investment of the Council’s Capital Receipts.

Having received the views of the Overview and Scrutiny Panel (Economic Well-Being), the Cabinet

RESOLVED

  that Council be recommended to note the contents of the report.

To consider a report by the Assistant Director (Finance & Resources).

(Councillor J A Gray, Executive Councillor for Resources, was in attendance for this item).

Consideration was given to a report by the Assistant Director, Finance and Resources (a copy of which is appended in the Minute Book) containing details of the Council’s investments for the period 1^st April to 30^th September 2013. Members’ attention was drawn to the treasury management activity, the performance summary and the performance against budget during the period.

Having been informed that the Authority was well within the operational boundary and authorised limit for external debt, Members discussed the Treasury Management Indicators, which demonstrated that all borrowing and principal sums invested beyond 364 days were also within the approved limits. Whereupon, it was

RESOLVED

(a)  that the contents of the report be noted; and

(b)  that the Cabinet be requested to recommend the Council to note the contents of the report by the Assistant Director, Finance and Resources on Treasury Management – Review of Performance: 6 Monthly Review.