Issue - meetings

To consider the Treasury Management Outturn Report for 2018-19 as recommended by the Executive.

RECOMMENDATION:  The Executive recommends that Council approve:

1)        the Treasury Management Outturn report for 2018/2019; and

2)        the actual 2018/2019 prudential indicators within the report.

The Committee considered a report, set out at Agenda pages 85 to 114, which summarised the Treasury Management operations during 2018/19.

The report was presented for monitoring and review purposes in accordance with the Council’s Treasury Management procedures. It confirmed that the Council had adhered to all agreed Prudential Indicators during the year.

It was proposed by John Kaiser and seconded by John Halsall that the recommendations in the report be approved.

Upon being put to the vote it was:

RESOLVED That:

1)     The Treasury Management Outturn report for 2018/19 be approved;

2)     The actual 2018/19 Prudential Indicators set out in the report be approved.

That:

1)        it be noted that the report was presented to the Audit Committee on 5 June 2019;

2)         the Treasury Management outturn report for 2018/2019 be noted;

3)         the actual 2018/2019 prudential indicators within the report be noted;

4)         the report be recommended to Council for approval.

The Executive considered a report setting out the Council’s Treasury Management operations during 2018/19.

When introducing the report the Executive Member for Finance and Housing highlighted the total amount of borrowing which had increased from £263.0m to £326.5m.  This was made up of both internal borrowing, which had increased from £117.8m to £124.0m, which was borrowed from the Council’s reserves and external borrowing which had increased from £145.2m to £202.5m.  It was noted that the average interest rate on borrowing throughout the year was 2.42% and the average rate of return on investments was 1.61%

RESOLVED that:

1)        it be noted that the report was presented to the Audit Committee on 5 June 2019;

2)         the Treasury Management outturn report for 2018/2019 be noted;

3)         the actual 2018/2019 prudential indicators within the report be noted;

4)         the report be recommended to Council for approval.