Issue - meetings

Treasury Management Outturn 2018/19

 

 

Meeting: 09/07/2019 - Cabinet (Item 10)

10 Treasury Management Outturn Annual Report pdf icon PDF 559 KB

Minutes:

Background:

 

This report provided an overview of treasury management activity during 2018/19.

 

Overall the Interest and Financing budget made a surplus over its targeted budget of £348,000. The overspend on interest paid was due to increased borrowing and the move from the use of short term to long term borrowing.

 

Bank rate had increased from 0.5% to 0.75% in August 2018 but there was no further change since that, which was likely to continue until the uncertainties over Brexit have cleared. 

 

The report was considered by the Audit Committee on 27 June 2019, and comments from this Committee were set out in section 13 of the report.

 

Decision number:

Decision:

The Cabinet noted the treasury management outturn annual report and the comments of the Audit Committee as set out in Section 13 of the report.

 

Reasons:

 

Section 7.1 (e) of the Council’s Financial Rules state that the Chief Finance Officer shall report to Cabinet and the Audit Committee not later than September on treasury management activities in the previous year.