Issue - decisions

Matter for Decision

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.

The 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 2014/15.

Decision of Executive Councillor for Finance and Resources

The Executive Councillor:

     i.        Agreed to recommend the report to Council, which included the Council’s actual Prudential and Treasury Indicators for 2014/15. 

    ii.        Agreed to recommend to Council changes (shown in bold) to our Counterparty List as highlighted within Appendix D of the Officer’ report.

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 regarding the Annual Treasury Management report.

The Committee sought clarification regarding organisations on the Counterparty list. The Head of Finance confirmed that there were organisations on the list that were never used as their rates were uncompetitive.

The Committee resolved by 6 votes to 0 to endorse the recommendations.

The Executive Councillor approved the recommendations.