Issue - meetings

Report FSD20064

The report summarised treasury management activity during the March quarter and included the Treasury Management Annual Report for 2019/20, which was required to be reported to Full Council. The report ensured that the Council was implementing best practice in accordance with the CIPFA Code of Practice for Treasury Management. Investments as at 31^st March 2020 totalled £336.1m and there was no external borrowing. For information and comparison, the balance of investments stood at £354.4m as at 31^st December 2019 and £311.6m as at 31^st March 2019, and, at the time of writing the report (21^st August 2020) it stood at £386.6m.

In response to a question, the Director of Finance confirmed that interest income was being closely monitored.  Much of the lending was over a two year period and consequently there was less of an impact in the current year however there was likely to be more of an issue for the next year and thereafter as a result of the reduction in interest rates.

RESOLVED: That the Portfolio Holder be recommended to

1.  Note the Treasury Management Annual Report for 2019/20;

2.  Approve the actual prudential indicators within the report.