Issue - meetings

To consider the annual treasury management report which reviews treasury management activities and the actual prudential and treasury indicators for 2011-12.

RESOLVED:             That in accordance with the Local Government Act 2003 Cabinet agrees to:

i)             Note the 2011/12 performance of the Treasury Management activity.

ii)            Note the change in the funding of the Housing Revenue Account from the subsidy system to the HRA Self Financing system.

iii)           Note the movements in the Prudential Indicators as set out in Annex A of the report.

REASON:                  To ensure the continued performance of the Council’s Treasury Management function and the affects of the HRA reform on treasury management activities can be monitored.

Consideration was given to the annual treasury management report which reviewed treasury management activities and the actual prudential and treasury indicators for 2011-12.

It was reported that recent changes placed a much greater onus on members for the review and scrutiny of treasury management policy and activities. Details of the Council’s treasury position for 2011/12 compared to 2010/11 were set out in Table 1, a forecast of base rates for 2011-15 at Figure 1 and the Public Works Loan Board rates and CYC borrowing levels at Figure 2 in the report.

Movement in borrowing during 2011/12 and the split between the General Fund and the Housing Revenue Account were set out in Tables 2 and 3, with borrowing and investment rates at Figures 3 and 4. The outturn of the Prudential Indicators for 2011/12 were detailed at Annex A of the report.

It was confirmed that the Annual Treasury Management Report was scheduled for consideration at the Audit and Governance Committee on 25 July 2012.

RESOLVED:             That in accordance with the Local Government Act 2003 Cabinet agrees to:

i)             Note the 2011/12 performance of the Treasury Management activity.

ii)            Note the change in the funding of the Housing Revenue Account from the subsidy system to the HRA Self Financing system.

iii)           Note the movements in the Prudential Indicators as set out in Annex A of the report.

REASON:                  To ensure the continued performance of the Council’s Treasury Management function and the affects of the HRA reform on treasury management activities can be monitored.