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 2018/19. Both these publications have been revised by CIPFA and references to these documents are to the 2017 Editions.

During the 2018/19 the minimum requirements were that Council should receive:

-        An annual strategy in advance of the year

-        A mid-year treasury update report and;

-        An annual review following the end of the year describing the activity compared to the strategy.

In line with the Code of Practice on Treasury Management all treasury management reports have been presented to Strategy and Resources Scrutiny Committee and to Full Council.

Decision of Executive Councillor for Finance and Resources

i.                 Recommended to Council to approve the report which included the Council’s actual Prudential and Treasury Indicators for 2018/19.

Any Alternative Options Considered and Rejected

Not applicable.

Scrutiny Considerations

The Committee received a report from the Head of Finance.

The Committee made the following comments in response to the report:

       i.          Queried whether the New Homes Grant was included within the figure contained on p145 of the agenda.

The Head of Finance said the following in response to Members’ questions:

       i.          The New Homes Grant was revenue but there was the ability to use it for capital.

The Committee unanimously resolved to endorse the recommendations.

The Executive Councillor approved the recommendation.

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

No conflicts of interest were declared by the Executive Councillor.