Issue - meetings

Report by Director of Finance (CC10).

The report sets out the Treasury Management activity undertaken in the financial year 2017/18 in compliance with the CIPFA Code of Practice.  The report includes Debt and Investment activity, Prudential Indicator Outturn, Investment Strategy, and interest receivable and payable for the financial year.

Council is RECOMMENDED to note the Council’s Treasury Management Activity in 2017/18.

The recommendations were agreed nem con.

The Council had before them a report by the Director of Finance (CC10) which set out the Treasury Management activity undertaken in the financial year 2017/18 in compliance with the CIPFA Code of Practice. The report included Debt and Investment activity, Prudential Indicator Outturn, Investment Strategy, and interest receivable and payable for the financial year.

Councillor Bartholomew moved and Councillor Carter seconded the recommendations set out in the report and on the face of the agenda. 

Following debate, the motion was put to the vote and was carried nem con.

RESOLVED: (nem con) to note the Council’s Treasury Management Activity in 2017/18.

Cabinet Member: Finance

Forward Plan Ref: 2018/118

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

Report by Director of Finance (CA8).

The report sets out the Treasury Management activity undertaken in the financial year 2017/18 in compliance with the CIPFA Code of Practice.  The report includes Debt and Investment activity, Prudential Indicator Outturn, Investment Strategy, and interest receivable and payable for the financial year.

Cabinet is RECOMMENDED to note the report, and to RECOMMEND Council to note the Council’s Treasury Management Activity in 2017/18.

Recommendations Agreed.

Cabinet considered a report which set out the Treasury Management activity undertaken in the financial year 2017/18 in compliance with the CIPFA Code of Practice.  The report included Debt and Investment activity, Prudential Indicator Outturn, Investment Strategy, and interest receivable and payable for the financial year.

Councillor Glynis Phillips, Shadow Cabinet Member for Finance welcomed the positive report and in particular the repayment of £18m of maturing loans, that the Council’s investments were classified as low risk and high return and that Northamptonshire had repaid the £10 million it had borrowed.  She noted that Arlingclose had raised as a risk the known uncertainties which would follow the Withdrawal Treaty, new international trading arrangements and the implications of the US and China trade war and the possible effect on the Council’s Treasury Management Activity.

Councillor David Bartholomew, Cabinet Member for Finance, responded to the points raised acknowledging that there were uncertain times ahead but gave assurances that this was being very carefully monitored.

Councillor Bartholomew moved the recommendations and introduced the contents of the report, highlighting that benchmarking results confirmed that the Council was achieving higher than average interests on deposits at 31 March 2018, when compared with a group of 135 other local authorities. This had been achieved by placing deposits over a longer than average duration with institutions that were of higher than average credit quality.

RESOLVED:            to note the report, and to RECOMMEND Council to note the Council’s Treasury Management Activity in 2017/18.