Issue - meetings

To consider the mid-year Treasury Management report for 2019/20.

RECOMMENDATION That Council note the following:

1)         the mid-year position on the treasury management portfolio;

2)         that the Council has worked within approved parameters;

3)         the forecast outturn saving of £500k (an over achievement on investments £390k, and saving on debt charges of £110k).

The Council considered the Treasury Management Mid-Year Report as set out on Agenda pages 185 to 187.  The report gave details of treasury management operations during the first six months of 2019/20.

It was proposed by Councillor John Kaiser and seconded by Councillor John Halsall that the recommendations set out on Agenda page 185 be approved.

Upon being put to the vote, it was:

RESOLVED That:

1)         the mid-year position on the treasury management portfolio be noted;

2)         it be noted that the Council had worked within approved parameters;

3)         the forecast outturn saving of £500k (an over achievement on investments £390k, and saving on debt charges of £110k), be noted.

That:

1)        the mid-year position on the treasury management portfolio be recommended to Council;

2)         it be noted that the Council has worked within approved parameters;

3)        the forecast outturn saving of £500k (an over achievement on investments £390k, and saving on debt charges of £110k) be noted.

The Executive considered a report setting out the mid-year position of the Treasury Management function.

During discussion of the report the Executive Member for Highways and Transport congratulated Councillor Kaiser and Officers for the good job they had done with the Council’s investments, particularly exceeding some of the external markets in respect of returns.  Councillor Kaiser responded that this was particularly pleasing given how cautious the Council was with its investments.

RESOLVED that:

1)        the mid-year position on the treasury management portfolio be recommended to Council;

2)         it be noted that the Council has worked within approved parameters;

3)        the forecast outturn saving of £500k (an over achievement on investments £390k, and saving on debt charges of £110k) be noted.