Decision details

Treasury Management Annual Report and Outturn Prudential Indicators 2018/19

Decision Maker: Cabinet, Council

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

Report providing information on the regulation and management of the Council's borrowing, investments and cash-flow and requesting approval of the Prudential Indicators.

Decisions:

The Cabinet Member with the Efficiency and Resources Portfolio introduced the report of the Managing Director providing important information regarding the regulation and management of the Council’s borrowing, investments and cash-flow; treasury management activity; and seeking approval of the Prudential Indicator results for 2018/19 in accordance with the Prudential Code.

 

It was reported that for the financial year 2018/19 presented similar circumstances to 2017/18 with regard to treasury management and the main implications of this for the Council were included in the submitted report.

 

The submitted report summarised the capital expenditure and financing for 2018/19; the Council’s underlying borrowing need; the Treasury position as at 31 March 2019; prudential indicators and compliance issues; the economic background for 2018/19; treasury management activity during 2018/19; and performance and risk benchmarking.

 

It was also reported that the Council’s treasury management activity during 2018/19 had been carried out in accordance with the Council policy and within legal limits; financing costs had been reduced during the year; and a saving of £0.661m had been achieved from the original Medium-Term Financial Plan.

 

RESOLVED – (a)  The outturn 2018/19 Prudential Indicators, as detailed within the submitted report and those in Appendix 1 to the submitted report, be noted.

 

(b)  That the Treasury Management Annual Report for 2018/19, as detailed in the submitted report, be noted.

 

(c)  That the report be forwarded to Council, in order for the 2018/19 Prudential Indicators to be noted.

 

REASONS – (a)  In order to comply with the Prudential Code for Capital Finance in Local Authorities.

 

(b)  To inform members of the Performance of the Treasury Management function.

 

(c)  To comply with the requirements of the Local Government Act 2003.

 

Report author: Peter Carrick

Publication date: 13/09/2019

Date of decision: 10/09/2019

Decided at meeting: 10/09/2019 - Cabinet

Effective from: 21/09/2019

Accompanying Documents: