Issue - meetings

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

That the Treasury Management Annual Report 2016/17 be received and noted.

Further to Minute No. 58 of their meeting held on 17thNovember 2016, the Cabinet considered a report by the Head of Resources (a copy of which is appended in the Minute Book) which reviewed the treasury management performance for the 2016/2017 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, a mid year review and annual report after the financial year end. 

The Cabinet were referred to paragraph 3.2 of the Officer’s report that summarised the treasury management transactions undertaken during the 2016/2017 financial year and detailed the investments and loans held as at 31st March 2017 in Appendix B of the Officer’s report. Whereupon the Cabinet,

RESOLVED

that the 2016/17 Treasury Management performance, be noted.

The Treasury Management Annual Report 2016/17 is to be received by the Panel.

With the aid of a report by the Head of Resources (a copy of which is appended in the Minute Book) the Treasury Management Annual Report 2016/17 was presented to the Panel.

Following a question regarding bail in legislation, the Panel were informed that in the event of a failing (or likely to fail) banks, building societies and investment firms the cost of such failures are borne by the shareholders and creditors of the firm, rather than the taxpayers.

In response to a question is the Council confident that services continue to grow at the rate required, Members were informed that it may be the case that the Council might raise prices in the future to cover costs.