Issue - meetings

Treasury Management Annual Report

Meeting: 10/09/2018 - Council (Item 13)

13 AG/2018/04 - Treasury Management Annual Report pdf icon PDF 57 KB

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Councillor Richard Clifton formally moved the adoption of the minute, which was put to the vote and carried.




That the Treasury Management Annual Report 2017/18 and be adopted.


Meeting: 26/07/2018 - Audit and Governance Committee (Item 8)

8 AG/2018/04 - Treasury Management Annual Report pdf icon PDF 127 KB

The Local Government Act 2003 require the Council to produce an annual treasury management report reviewing treasury management activities and the actual Prudential and Treasury Indicators for 2017/18. This report meets 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).


The Council invested surplus funds when available and complied with the requirements of the Prudential Code. The Council has operated the agreed Treasury Management Strategy for 2017/18.

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Lyndsey Gamble, Head of Investment, Risk and Commercial Finance, presented the report. Following member enquiry, particular explanation was given to the cash balance strategy (versus longterm borrowing).


Following a question on investment property purchases from Councillor Nick Mattey, the Head of Investment, Risk and Commercial Finance explained the modelling involved which covered a range of scenarios. The Councillor further enquired about investment in land in Belmont and Gerald Almeroth, Strategic Director, explained the borrowing strategy and the minimisation of revenue costs. Councillor Param Nandha enquired if other such investment was foreseen at present to which it was responded that this was a separate consideration to treasury management and sources of borrowing were explained. Chair and Vice Chair respectively, drew attention to Heritable Bank (Paragraph 4.34-5) in the report and the maintenance of surplus funds (Paragraph 4.20)



1.    The treasury management activity undertaken during 2017/18 be noted.

2.    The Council performing within the Prudential Indicator limits set for 2017/18 be noted.

3.    This report be approved as the Treasury Management Annual Report 2017/18 and recommended for adoption by Full Council.