Issue - meetings

Report by Director of Finance (CC10).

The report sets out the Treasury Management activity undertaken in the first half of the financial year 2018/19 in compliance with the CIPFA Code of Practice.  The report includes Debt and Investment activity, Prudential Indicator monitoring and forecast interest receivable and payable for the financial year.

Council is RECOMMENDED to note the report and the Council’s Mid-Term Treasury Management Review 2018/19.

Recommendations agreed nem con.

The Council had before it a report which set out the Treasury Management activity undertaken in the first half of the financial year 2018/19 in compliance with the CIPFA Code of Practice, including Debt and Investment activity, Prudential Indicator monitoring and forecast interest receivable and payable for the financial year.

RESOLVED:  (on a Motion by Councillor Bartholomew, seconded by Councillor Carter and carried nem con) to note the report and the Council’s Mid-Term Treasury Management Review 2018/19.

Cabinet Member: Finance

Forward Plan Ref: 2018/097

Contact: Donna Ross, Principal Finance Manager – Treasury Pension Tel: (01865) 323976

Report by Director of Finance (CA6).

The report sets out the Treasury Management activity undertaken in the first half of the financial year 2018/19 in compliance with the CIPFA Code of Practice.  The report includes Debt and Investment activity, Prudential Indicator monitoring and forecast interest receivable and payable for the financial year.

Cabinet is RECOMMENDED to:-

(a)   note the report.

(b)  RECOMMEND Council to note the report and the Council’s Mid-Term Treasury Management Review 2018/19.

Recommendations agreed.

Cabinet considered a report that set out the Treasury Management activity undertaken in the first half of the financial year 2018/19 in compliance with the CIPFA Code of Practice.  The report included Debt and Investment activity, Prudential Indicator monitoring and forecast interest receivable and payable for the financial year.

Councillor Glynis Phillips, Shadow Cabinet Member for Finance, noted that the report represented a positive picture with all the metrics being good. Referring to paragraph 16 Councillor Phillips asked when, was the last time there was any new debt financing. Referring to the investment strategy Councillor Phillips queried whether there was any guidance on ethical investment. In relation to Annex 5 Councillor Phillips asked whether there was confidence that there were no links to tobacco companies.

Councillor Bartholomew, Cabinet Member for Finance, responded to the points raised and agreed that the information in the report was very encouraging. He confirmed that the county council was not taking on new debt and the picture on repayments was that they would continue to fall. On environmental, social and governance issues Councillor Bartholomew commented that he had suggested that the Audit & Governance Committee have a look at this area. He confirmed that the county council lends responsibly but that there was no control over how those bodies then re-lend.

Councillor Bartholomew, introduced the contents of the report, thanked officers for their work and moved the recommendations.

RESOLVED:             to: -

(a)   note the report.

(b)  RECOMMEND Council to note the report and the Council’s Mid-Term Treasury Management Review 2018/19.