Issue - meetings

Cabinet, at its meeting on 6 December 2019, considered the report of the head of finance on the outturn performance of the treasury management function for the financial year 2018/19.

The report of the head of finance, which the Joint Audit and Governance Committee considered on 14 October 2019 and Cabinet considered on 6 December 2019, is attached.

The Joint Audit and Governance Committee made no recommendations to Cabinet. 

Cabinet has recommended to Council as follows:

RECOMMENDATION TO COUNCIL: to

1.    approve the treasury management outturn report 2018/19; and

2.    approve the actual 2018/19 prudential indicators within the report. 

Council considered Cabinet’s recommendations, made at its meeting on 6 December 2019, on the outturn performance of the treasury management function for the financial year 2018/19.

The Joint Audit and Governance Committee and Cabinet had considered the head of finance’s report and were satisfied that the treasury activities had been carried out in accordance with the treasury management strategy and policy.

RESOLVED: to

1.         approve the treasury management outturn report 2018/19; and

2.         approve the actual 2018/19 prudential indicators within the report. 

To consider the head of finance’s report. 

Cabinet considered the head of finance’s report on the treasury outturn in 2018/19. 

Cabinet noted that the report had been considered by the Joint Audit and Governance Committee, which was satisfied that the treasury activities had been carried out in accordance with the treasury management strategy and policy. 

Cabinet welcomed the report, noting that performance had exceeded targets. 

The Cabinet member for finance reported that he would be investigating the possibility of a more flexible policy to allow the council to switch between treasury investments and property investments.  Cabinet noted that any change would have to be part of the 2020/21 budget proposals. 

RECOMMENDED to Council to:

(a)     approve the treasury management outturn report 2018/19; and

(b)     approve the actual 2018/19 prudential indicators within the report.