Decision details

Matter for Decision

The report stated that the Council is required by regulations issued under the Local Government Act 2003, to produce an annual treasury report reviewing treasury management activities and the actual prudential and treasury indicators for each financial year.

Decision of the Leader

Agreed to recommend the report (which includes the Council’s actual prudential and treasury indicators for 2012/13) for approval by Council. 

Reasons for the Decision

As set out in the officer’s report

Any Alternative Options Considered and Rejected

Not applicable.

Scrutiny Considerations

The committee received a report from the Director of Resources.

In response to Members’ questions the Director of Resources said the following:

(i)             The Council aimed to reclaim capital and interest from Icelandic Banks.

(ii)            The Council could consider selling its interest. Options would be brought back for consideration by the committee at a future meeting.

(iii)          The Treasury Management Advisor was reviewing the Council’s position on a day to day basis.

The Committee resolved by 4 votes to 0 to endorse the recommendation.

The Leader approved the recommendation.

Conflicts of Interest Declared by the Leader (and any Dispensations Granted)

Not applicable.