Council and democracy
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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.