Issue - meetings

Report of the Cabinet Member Finance

The Cabinet Member Finance introduced the report and reminded Members that the council operated a balanced budget. She explained that part of the treasury management operation ensured that the cash flow was adequately planned with surplus monies invested in low risk counterparties, another important function was the funding of the capital plans assessing and ensuring that the borrowing needs can be met in order to fund the capital programme.

The treasury advisers had set out an economic update for the first six months as outlined in paragraphs 2.1 to 2.6 of the report.

The Cabinet Member wished to thank officers and Capita, the council’s treasury advisers, and was pleased to report that the outturn position for 2016/17 was anticipated to be above budget.

RESOLVED (unanimously)

To note the contents of the summary report of the treasury management activity during the first six months of 2016/17.

Report of the Cabinet Member Finance

RESOLVED THAT

the contents of the summary report of the treasury management activity during the first six months of 2016/17 be noted.

The Cabinet Member Finance introduced the report and explained that the Treasury Management Strategy for 2016/17 had been determined by the adoption of the Chartered Institute of Public Finance and Accountancy’s (CIPFA) Code of Practice on Treasury Management 2009 (revised 2011), which included the requirement for determining a treasury strategy on the likely financing and investment activity for the forthcoming financial year. The Code also recommended that members were informed of Treasury Management activities at least twice a year. The report therefore ensured that the authority had adopted the code and complied with its requirements.

The Cabinet Member Finance highlighted that part of the treasury management operations ensured that cashflow was adequately planned, with surplus monies being invested in low risk counterparties, providing adequate liquidity initially before considering optimising investment return. The second main function of the treasury management was the funding of the Council’s capital plans. She also highlighted that the outturn position was above budget due to good rates. The report would be forwarded to Council.

RESOLVED THAT

the contents of the summary report of the treasury management activity during the first six months of 2016/17 be noted.