Issue - meetings

Treasury Management Outturn 2019/20

Meeting: 07/07/2020 - Cabinet (Item 7)

7 Treasury Management Outturn Annual Report pdf icon PDF 955 KB




This report provided an overview of treasury management activity during 2019/20.


The report stated that overall, the Interest and Financing budget made a surplus over its targeted budget of £5,348,000. The underspend in interest paid was due to the timing and amounts of borrowing and also the increased use of intra-authority in recent months as a reaction to the hike in Public Works Loan Board (PWLB) rates.


The report also stated that there had been an expectation that the Bank Rate would remain at 0.75% during 2019/20 and until the uncertainties over Brexit have cleared. However, there were two emergency cuts to the Bank Rate in March 2020, initially to 0.25%, then to 0.10%.


The report would also be considered by the Audit Committee on 30 July 2020.


Decision number:



The Cabinet noted the treasury management outturn annual report.




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.