Issue - meetings

The Interim Head of Paid Service to present a report that outlines the annual treasury management review of activities and the prudential and treasury indicators for 2019/20.

Resolved:  That the 2019/20 performance of treasury management activity and prudential indicators outlined in Annex A to the report be noted.

Reason:     To ensure that the continued performance of the treasury management function can be monitored, and to comply with statutory requirements.

The Head of Corporate Finance & Commercial Procurement presented a report on the annual review of treasury management activities and the actual prudential and treasury indicators for 2019/20, as required by Local Government Act 2003 regulations and in accordance with CIPFA codes of practice.

Attention was drawn to the significant uncertainty regarding future economic growth, unemployment and fiscal and monetary policy resulting from the Covid-19 restrictions across the UK.  Members would be kept informed on the subsequent impact on the council’s borrowing and investments as the situation evolved. In relation to the 2019/20 borrowing outturn, two new loans had been taken out during the year, as detailed in paragraph 16.

The report had been reviewed and scrutinised by the Audit & Governance Committee at their meeting on 15 July 2020.  Details of the out-turn against prudential indicators were attached at Annex A. 

Resolved:  That the 2019/20 performance of treasury management activity and prudential indicators outlined in Annex A to the report be noted.

Reason:     To ensure that the continued performance of the treasury management function can be monitored, and to comply with statutory requirements.