Issue - meetings

The Council is required by regulations issued under the Local Government Act 2003 to produce an annual treasury management review of activities and the actual prudential and treasury indicators for 2013/14. This report meets the requirements of both the CIPFA Code of Practice on Treasury Management (the Code) and the CIPFA Prudential Code for Capital Finance in Local Authorities (the Prudential Code). 

Resolved:           That, in accordance with the Local Government Act 2003, Cabinet agree to:

(i)           Note the 2013/14 performance of Treasury Management activity and

(ii)         Note the compliance with and movements of the  Prudential Indicators in Annex A of the report.

Reason: To ensure the continued performance of the Council’s    Treasury Management function can be monitored.

Cabinet considered the annual treasury management review of activities and the prudential and treasury indicators for 2013/14, as required by regulations issued under the Local Government Act 2003.

The position for 2013/14 compared to 2012/13 was summarised, with total borrowing at the start of the year at £311.8m and ending  at £311.2m, split between the General Fund and Housing Revenue Account. Details of the interest and investment rates applicable over this period were reported at paragraphs 11 to 15 and prudential indicators for 2013/14 at Annex A.

The Cabinet Member confirmed that although a legal requirement this report provided an excellent health check for the authority’s finances.

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

(i)           Note the 2013/14 performance of Treasury Management activity and

(ii)         Note the compliance with and movements of the Prudential Indicators in Annex A of the report.

Reason: To ensure the continued performance of the Council’s   Treasury Management function can be monitored.