Issue - meetings

This report sets out the mid-year review of the Treasury Management Strategy 2017/18.

Discussion:

This report presented the mid-year review of the Treasury Management Strategy 2017/2018, which had been approved by Full Council alongside the Capital and Revenue Budgets on 23 February 2017. The report included an economic update for the first six months of 2017/2018 and reviewed the Treasury Management Strategy Statement and Annual Investment Strategy; the Council’s investment portfolio and borrowing strategy for 2017/2018; a review of any debt rescheduling undertaken during 2017/2018 and, compliance with Treasury and Prudential Limits for 2017/2018.

The report had been considered by the Cabinet and Audit Committee, details of which were set out in paragraphs 9 and 10 respectively.

The Leader of the Council, Councillor Jarrett, supported by the Deputy Leader and Portfolio Holder for Housing and Community Services, Councillor Doe, proposed the recommendation set out in the report.

Decision:

The Council noted the contents of this report.

Background:

This report presented the mid-year review of the Treasury Management Strategy 2017/2018, which had been approved by Full Council alongside the Capital and Revenue Budgets on 23 February 2017. This report would also be considered by the Audit Committee on 28 September 2017 prior to final consideration at Full Council on 12 October 2017.

The report included an economic update for the first six months of 2017/2018 and reviewed the Treasury Management Strategy Statement and Annual Investment Strategy; the Council’s investment portfolio and borrowing strategy for 2017/2018; a review of any debt rescheduling undertaken during 2017/2018 and, compliance with Treasury and Prudential Limits for 2017/2018.

The report also included details of the urgent decision taken by the Leader on 28 July 2017 in relation to an amendment to Treasury Management Practice 1, as set out in paragraph 4.1 of the report.

Reasons:

In accordance with the Chartered Institute of Public Finance Accountancy’s (CIPFA) Code of Practice for Treasury Management, there should be a review of the strategy at least half yearly.