Issue - meetings

Cabinet, at its meeting on 3 February 2020, considered a monitoring report on the treasury management activities for the first six months of 2019/20 and an update on the current economic conditions with a view to the remainder of the year. 

The Joint Audit and Governance Committee considered the report at its meeting on 27 January 2020. The committee resolved to note the treasury management mid-year monitoring report 2019/20 and was satisfied that the treasury activities are carried out in accordance with the treasury management strategy and policy.

The report of the interim head of finance, which Cabinet considered on 3 February 2020, is attached.

RECOMMENDATION TO COUNCIL: to

1.    note that the Joint Audit and Governance Committee is satisfied that the treasury activities are carried out in accordance with the treasury management strategy and policy; and

2.    approve the interim head of finance’s report to Cabinet on 3 February 2020. 

Council considered Cabinet’s recommendations, made at its meeting on 3 February 2020, on the treasury management activities for the first six months of 2019/20 and an update on the current economic conditions with a view to the remainder of the year. 

The Joint Audit and Governance Committee had considered the report at its meeting on 27 January 2020 and had not recommended any adjustments to the strategy as a result of the first six months activities. That committee and Cabinet had concluded that the treasury management activities had operated within the agreed parameters set out in the approved treasury management strategy and policy.

RESOLVED: to

1. note that the Joint Audit and Governance Committee is satisfied that the treasury activities are carried out in accordance with the treasury management strategy and policy; and

2. approve the interim head of finance’s report to Cabinet on 3 February 2020. 

To consider the head of finance’s report. 

Cabinet considered the interim head of finance’s report, which monitored the councils’ treasury management activities during the first six months of 2019/20.  This showed that the council had achieved higher treasury management income than anticipated during the period.  Cabinet noted that the Joint Audit and Governance Committee was satisfied that the treasury activities had been carried out in accordance with the treasury management strategy and policy. 

RECOMMENDED to Council to:

(a)      note that the Joint Audit and Governance Committee is satisfied that the treasury activities are carried out in accordance with the treasury management strategy and policy; and

(b)      approve the interim head of finance’s report to Cabinet on 3 February 2020.