Issue - meetings

Report FSD19069

The Committee considered a report summarising treasury management activity during the March quarter, including the Treasury Management Annual Report for 2018/19, which was required to be reported to Full Council.  Investments as at 31^st March 2018 totalled £311.6 million and there was no external borrowing.

In response to a question concerning the property portfolio, the Director of Finance highlighted that the Treasury Management Annual report focused on cash investments but that information about the property portfolio could be provided to Members if necessary.

A Member noted that alternative investments were performing well and questioned whether it was time to move more from cash investments into alternative investments.  The Director of Finance confirmed that this was being reviewed but a cautious approach was being taken as a result of the current markets.

In response to a question concerning why other Local Authorities would borrow from LB Bromley rather than from the Public Works Loan Board, the Director of Finance reported that to his knowledge the Public Works Loan Board was for longer term borrowing and was more restrictive.  It was agreed that a more detailed answer would be provided following the meeting.

RESOLVED: That the Portfolio Holder and Council be recommended to:

1. Note the Treasury Management Annual report for 2018/19; and

2. Approve the actual prudential indicators within the report.