Issue - meetings

To receive the Treasury Management Outturn Report 2017-18.

The Lead Specialist Finance presented the Treasury Management Outturn Report 2017-18 which detailed the Treasury Management operations during 2017/18.

During the discussion of this item the following points were made:

·         It was noted that the Council had adhered to all the agreed prudential indicators during 2017/18.

·         The investment return for 2017/18 was £1.3m.  The Lead Specialist Finance explained that the Council tended to restrict external investments to other local authorities.  The security of the investment was of key importance.

·         Councillor Whittle asked why an investment broker was used for external investments when officers could go directly to those authorities with who they may have developed a relationship who may be willing to lend.  The Lead Specialist Finance commented that officers could potentially contact other known local authorities regarding investments and if this was unsuccessful, make use of a broker.  The broker fee tended to be with the lending authority.

·         Councillor Chopping asked about short term loans and the council owned companies.

RESOLVED:  That

1)         the Treasury Management Outturn Report 2017-18 be noted;

2)         the actual 2017/18 prudential indicators within the report, be noted;

3)         the report be recommended to Council for approval.