Issue - meetings

Report C/17/22 reviews the council’s treasury management activities for 2016/17, including the actual treasury management indicators. The report meets the requirements of both the CIPFA Code of Practice on Treasury Management and the CIPFA Prudential Code for Capital Finance in Local Authorities. The Council is required to comply with both Codes through Regulations issued under the Local Government Act 2003.

Report C/17/22 reviews the council’s treasury management activities for

2016/17, including the actual treasury management indicators. The report

meets the requirements of both the CIPFA Code of Practice on Treasury

Management and the CIPFA Prudential Code for Capital Finance in Local

Authorities. The Council is required to comply with both Codes through

Regulations issued under the Local Government Act 2003.

This report was considered at Cabinet on 19 July 2017.

Members were informed that all treasury management regulations and standards are being complied with. They noted that longer term investments were being used rather than shorter term options. This has helped to reduce risks.

Members asked for more background information about why the council’s credit rating reduced and when the change happened. This information will be circulated to the committee after this meeting along with further information about the council’s investments with BNP Paribas.

It was noted that an investments advisory company, Arlingclose, helps the finance team to monitor the strategy and provides advice on investment risks and opportunities.

Proposed by Councillor Peter Gane

Seconded by Councillor Michael Lyons and

Resolved:

1.         To receive and note Report C/17/22.

(Voting: For 6; Against 0; Abstentions 0)