Issue - meetings

This report sets out the mid year review of the Treasury Management Strategy 2011/2012 in line with the strategy and the Chartered Institute of Public Finance Accountancy’s (CIPFA) code of Practice for Treasury Management that there should be a review of that strategy at least half yearly.

Discussion:

This report provided details of the mid year review of the Treasury Management Strategy 2011/2012 in line with the requirement of the Strategy and the Chartered Institute of Public Finance Accountancy’s (CIPFA) code of Practice for Treasury Management. This report had been previously considered by the Business Support Overview and Scrutiny Committee on 2 December 2011 and Cabinet on 20 December 2011.

Councillor Jarrett, Portfolio Holder for Finance, supported by Councillor Howard Doe, Portfolio Holder for Housing and Community Services, proposed the recommendation set out in the report.

Decision:

The Council noted the report.

Background:

This report provided details of the mid year review of the Council’s Treasury Management strategy and performance. This included an overview of the global economy and UK economy together with an analysis of the Council’s performance in respect of borrowing activity, investment, debt rescheduling and compliance with treasury and prudential limits. 

The Business Support Overview and Scrutiny Committee considered this report on 1 December 2011 and its views were set out in paragraph 9 of the report.

Reasons:

The Treasury Management Strategy requires that Cabinet receives and considers a mid year review of treasury management strategy and performance.