Decision details

The Leader of the Council and Cabinet Member (Finance) submitted a Treasury Management mid-year review report in compliance with CIPFA’s Code of Practice. The report covered the following areas:

·          An economic update for the 2014/15 financial year to 30 September 2014;

·          A review of the Treasury Management Strategy Statement and Annual Investment Strategy;

·          The Council’s capital expenditure (prudential indicators);

·          A review of the Council’s investment portfolio for 2014/15;

·          A review of the Council’s borrowing strategy for 2014/15;

·          A review of any debt rescheduling undertaken during 2014/15;

·          A review of compliance with Treasury and Prudential Limits for 2014/15.

Delegated decisions:

1.   That, in accordance with the CIPFA Code of Practice on Treasury Management, the report be noted.

2.   That approval be given to the increase of the Counterparty investment limit for Barclays from £10m to £15m to reflect that Barclays will be the Authority’s main banker for 2015.

Reason for the decision:

Treasury Management is an integral part of the Council’s financial framework.

Other option considered and rejected:

To reject the recommendations.