27 Treasury Management Annual Report 2016/17
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.
Supporting documents:
Minutes:
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)