Issue - meetings

Full Council approved the Treasury Management Strategy for 2018/19 alongside the Capital and Revenue Budgets on the 22 February 2018. In accordance with the Chartered Institute of Public Finance Accountancy’s (CIPFA) Code of Practice for Treasury Management, there should be a review of that strategy at least half yearly.

This report represents the mid-year review of the Treasury Management Strategy 2018/19.

Discussion:

This report provided details of the mid-year review of the Treasury Management Strategy 2018/19 in accordance with the Chartered Institute of Public Finance Accountancy’s (CIPFA) Code of Practice for Treasury Management.

The report had been considered by the Cabinet on 25 September 2018 and the Audit Committee on 27 September 2018 and their comments were set out in sections 9 and 10 of the report 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 comments of the Cabinet and the Audit Committee and noted the contents of this report.

Background:

This report presented the mid-year review of the Treasury Management Strategy 2018/2019, which had been approved by Full Council alongside the Capital and Revenue Budgets on 22 February 2018. This report would also be considered by the Audit Committee on 27 September 2018 prior to final consideration at Full Council on 11 October 2018.

The report included an economic update for the first part of 2018/2019; a review of the Treasury Management Strategy Statement; Annual Investment Strategy; the Council’s Investment Portfolio and Borrowing Strategy for 2018/2019; a review of any debt rescheduling undertaken during 2018/2019 and compliance with Treasury and Prudential Limits for 2018/2019.

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.