Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
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.
Publication date: 12/12/2014
Date of decision: 26/11/2014
Decided at meeting: 26/11/2014 - Cabinet
Accompanying Documents: