Issue - meetings

Full Council approved the Treasury Management Strategy for 2019/20 alongside the Capital and Revenue Budgets on the 21 February 2019. 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 2019/20.

Discussion:

This report provided details of the mid-year review of the Treasury Management Strategy 2019/20 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 24 September 2019 and the Audit Committee on 26 September 2019 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 2019/2020, which had been approved by Full Council alongside the Capital and Revenue Budgets on 21 February 2019. This report would also be considered by the Audit Committee on 26 September 2019 prior to final consideration at Full Council on 10 October 2019.

The report included an economic update for the first part of 2019/2020; a review of the Treasury Management Strategy Statement; Annual Investment Strategy; the Council’s Investment Portfolio and Borrowing Strategy for 2019/2020; a review of any debt rescheduling undertaken during 2019/2020 and compliance with Treasury and Prudential Limits for 2019/2020.

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.