Agenda item

Treasury Management Mid Year Report 2010-2011

Report of Director of Finance and Support (Copy herewith)

Decision:

1.      Cabinet recommended to Council that they note the Council’s treasury management activities and performance for the period 1 April to 30 September 2010.

 

2.      Cabinet recommended to Council that they note the change to the Council’s Investment Strategy detailed at paragraphs 3.2.27 to 3.2.28.

  1. Cabinet recommended to Council that they approve revisions to the Council’s prudential indicators for 2010-11 for Capital Expenditure and the Capital Financing Requirement as set out at paragraphs 3.2.51 and 3.2.54.

Minutes:

Councillor Perkins, as the relevant Portfolio Holder submitted a report, that set out performance of treasury management activities, including borrowing and investments, a change to the Council’s Investment Strategy authorised by the Chief Financial Officer and that sought approval to revisions to the Council’s Prudential Indicators for Capital Expenditure  and the Capital Financing Requirement for 2010-11. He commented that the Council had a total of £78m invested and noted the report to Council concerning the breach in policy in order to better balance the Council’s investment risks. Appendix G of the report showed investment returns significantly and consistently above base rate. Long term debt totalled £32m and approximately half of the loans would be redeemed by 2014/15. The Prudential Indicators were appended to the report.

 

RECOMENDED:    1.That the Council’s treasury management activities and performance for the period 1 April to 30 September 2010 be noted.

 

                               2. That the change to the Council’s Investment Strategy detailed at paragraphs 3.2.27 to 3.2.28 of the report, be noted.

 

3.      That the revisions to the Council’s prudential indicators for 2010-11 for Capital Expenditure and the Capital Financing Requirement as set out at paragraphs 3.2.51 and 3.2.54 of the report be approved.

Supporting documents: