Issue - meetings

To report on the performance of the Treasury Management activity over the past financial year.

Notes the 2015/16 Treasury Management performance.

A report by the Head of Resources was presented to the Cabinet (a copy of which is appended in the Minute Book) which reviewed the treasury management performance for the 2015/2016 financial year. 

The Council’s Treasury Management processes were underpinned by the Chartered Institute of Public Finance and Accountancy’s Code of Practice on Treasury Management.  The Code required the Council to produce an annual Treasury Management Strategy and recommended that Members were informed of treasury management activity at least twice a year.  The first report being the mid-year review (reported to the Cabinet on the 19 November 2015) and the annual report after the financial year end. 

Paragraph 3.2 of the Officer’s report summarised the treasury management transactions undertaken during the 2015/2016 financial year and details of the investments and loans held as of 31 March 2016 were detailed in Appendix B of the Officer’s report.  Whereupon the Cabinet,

RESOLVED

to note the 2015/16 Treasury Management performance.

The Treasury Management Strategy 2015/16 Outturn Report is to be received by the Panel (To Follow).

With the aid of a report by the Head of Resources (a copy of which is appended in the Minute Book) the Treasury Management Strategy 2015/16 Outturn Report was presented to the Panel. Members were advised that the Council has a statutory obligation to report on the Treasury Management of the authority.

Following a query on the £10m the Council borrowed in 2008 the Panel were informed that at the time the rate was considered low. The money received is loaned out in order for the Council to make a return.

The Panel noted that regarding Inflation in the Economic Review section the report states that ‘there is no indication that oil prices will pick up’ which conflicts with what Members and residents are experiencing. In addition Members would like the local inflation figure added to the report the next time this report is produced.