Issue - meetings

This reports provides an update on treasury management performance for 2009/10, compared against the budget and treasury management strategy taken to Budget Council in February 2009, summarises the economic environment over the 2009/10 financial year and reviews treasury management performance in specific areas.

RESOLVED: (i)         That the 2009/10 performance of the Treasury Management activity, movements on the Venture Fund and the Treasury Management out-turn be noted.

                        (ii)        That the movements in the Prudential Indicators be noted.

REASON:      For information, and in accordance with the requirement in the Prudential Code to review the Prudential Indicators.

Members considered a report which provided an update on treasury management performance for 2009/10, summarised the economic environment over the 2009/10 financial year and reviewed treasury management performance in specific areas.

The report summarised the economic environment over the 2009/10 financial year, highlighting the effects of economic conditions on the budget set in February 2009.  It reviewed treasury management performance in respect of long term borrowing, debt restructure, short term investments, investment credit criteria policy, the post Icelandic Bank collapse, the Venture Fund, the Treasury Management out-turn and the Prudential Indicators.

Under the Prudential Code, the Prudential Indicators set by Council in February 2009 must be reviewed.  Details of the indicators, their estimated and actual out-turns, were provided in Annex A to the report.

RESOLVED: (i)         That the 2009/10 performance of the Treasury Management activity, movements on the Venture Fund and the Treasury Management out-turn be noted.

                        (ii)        That the movements in the Prudential Indicators be noted.

REASON:      For information, and in accordance with the requirement in the Prudential Code to review the Prudential Indicators.