Issue - decisions

Treasury Management Quarterly report

31/07/2017 - Treasury Management Annual report 2016/17

The Treasury Management Annual Report was presented by Lyndsey Gamble, Head of Financial Strategy and Planning. In discussion she drew the committee’s attention to the table in paragraph 4 as a summary of treasury management activity in the year. It was confirmed that the reduction in balances seen was due to utilising internal funding rather than borrowing.  However since balances are now at a minimal level, some external borrowing had been undertaken to finance the purchase of investment properties.  

 

The Head of Financial Strategy and Planning confirmed that a MiFID update is expected in July. She further drew committee’s attention to the details in paragraph 4.15 regarding changes to Minimum Revenue Provision (MRP) policy and discussed the exceptions to the practice as set out in the policy.  The Committee was advised that the Council’s treasury advisors Capita Asset Services have been bought by Link group.  There were no concerns about this change, but the Council’s contract was due to be re-let in March 2018 and this would provide an opportunity to consider the performance of the advisors.

 

RESOLVED that :

  1. The Treasury Management activity undertaken during 2016 /17 be noted.
  2. The amended Minimum Revenue Provision (MRP) policy attached at appendix C be approved and it be recommended that this is adopted by Full Council
  3. The Treasury Management Annual Report 2016/17 be approved and it be recommended that this is adopted by Full Council.