Issue - meetings

Report FSD20086

The report summarised treasury management activity during the second quarter of 2020/21 and included a Mid-Year Review of the Treasury Management Strategy Statement and Annual Investment Strategy.  The report ensured that the Council was implementing best practice in accordance with the CIPFA Code of Practice for Treasury Management.  Investments as at 30^th September 2020 totalled £373.3m and there was no outstanding external borrowing.  For information and comparison, the balance of investments stood at £366.7m as at 30^th June 2020, £336.1m as at 31^st March 2020, and, at the time of writing the report (4^th November 2020) it stood at £390.4m.

The Committee noted that there had been no investment exposure to the London Borough of Croydon.  The Director of Finance confirmed that the Council could be reasonably confident in lending to other local authorities and background checks were always undertaken prior to lending.

RESOLVED: That the Portfolio Holder be recommended to

(a)  note the Treasury Management performance for the second quarter of 2020/21;

(b)  recommend that Council approve the 2020/21 prudential indicators as set out in Annex B1.