Issue - meetings

Matter for Decision:

To update the Council on treasury management activity and performance in the first half of 2012/13 in accordance with the Chartered Institute of Public Finance and Accountancy (CIPFA) Treasury Management Code of Practice. Also to advise the Council on its treasury management practices as required by the CIPFA Treasury Management Code of Practice.

 Decision of the Leader:

The Leader resolved to:

        i.            Recommend to Council the revised Prudential and Treasury Management Indicators as set out in Appendix 4 of the officer’s report, incorporating changes as detailed in section 11 of the officer’s report.

Reasons for the Decision: As set out in the officer’s report

Any alternative options considered and rejected: As set out in the officer’s report

Scrutiny Considerations:

The committee received a report from Director of Resources.

In response to a question from Councillor Herbert the Director of Resources confirmed the following:

        i.            Following market sector advice the City Council were currently only lending over short-term periods. If the market picked up it was important that the Council be in a position to respond quickly to this, and shorter-term placements allowed flexibility for this.

The Scrutiny Committee considered and endorsed the recommendations by 4 votes to 0.

The Leader approved the recommendations.

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

Not applicable.