Agenda item

The LGSS Finance Manager presented the report and elaborated thereon. It was advised that this report  was put beforeAudit Committeeforscrutiny and also toadviseAudit  Committee  of  plans  for  treasury  management  training  for members tobedeliveredin thenewfinancial year.

TheCouncil’s TreasuryManagementMid-Year Report for 2015-16 attached at Appendix1 was outlined by the Finance Manager and it was advised that thisreportwaspresentedtoCabineton9 December2015 andto Council on 14December2015.

The Finance Manager stated that AuditCommitteeareaskedto reviewthereportandto makecommentsor recommendations as theythinkappropriate.

It was also noted that itis plannedto offer treasurymanagementtrainingearly inthenew financialyear,tobedeliveredbyCapita,theCouncil’streasury managementadvisers,Trainingwillbeofferedinitiallyto CabinetandAudit Committeemembers, as they havespecificgovernanceresponsibilitiesin respectoftreasury management,butmaybeextendedtoothermembersif there is sufficientdemand.

In response to a question on loan funding to the University of Northampton (3.2.15 of appendix 1) the Chief Finance Officer advised that the loan will be paid in a single tranche and will be funded by PWLB project rate borrowing, applied for by SEMLEP.

The Chief Finance Officer advised the committee, in response to a question, that discussions are taking place regarding a mechanism local authorities can use to pool their money together however it is very early in the process.

RESOLVED

TheAuditCommitteereviewedtheTreasuryManagementMid-YearReportfor 2015-16.