Decision details

Purpose of report: To update the Executive and full Council on treasury management performance for 6 months of the year 10/11, the Prudential Indicators and compare against the budget taken to Council on 25 February 2010.

Members are asked to: Note the performance of the treasury management activity for monitor 2 10/11.

RESOLVED: (i)         That the performance of the Treasury Management activity be noted.

                        (ii)        That the projected underspend of the Treasury Management budget by £150k be noted.

                        (iii)       That the change in the Treasury Management strategy to increase the target interest rate on borrowing from 4.5% to 5.5%, in line with the increase in PWLB rates due to the Comprehensive Spending Review, as detailed in paragraph 28 of the report, be approved.

REASON:      To ensure the continued performance of the Council’s Treasury Management programme.