Issue - meetings

Matter for Decision

The Council was 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.

This report met the requirements of both the CIPFA Code of

Practice on Treasury Management (the Code) and the CIPFA

Prudential Code for Capital Finance in Local Authorities (the Prudential Code) in respect of 2016/17.

In line with the Code of Practice, all treasury management reports had to be presented to both Strategy & Resources Scrutiny Committee and to full Council.

Decision of Executive Councillor for Finance and Resources:

     i.        Recommended the report to Council inclusive of the Council’s actual Prudential and Treasury Indicators for 2016/17.

Reason 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 Head of Finance.

Councillor Cantrill commented that the approach to risk appeared outdated and asked whether a different approach might be taken in the future.

The Head of Finance confirmed that the council took a conservative approach to risk. As there was no indication that there would be any change to the investment strategy, the council was not undertaking any borrowing and therefore the risk was very low.

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

The Executive Councillor approved the recommendation.