Issue - meetings

Treasury Management Mid-Year Report 2020-21

Meeting: 18/03/2021 - Council (Item 117)

117 Treasury Management Mid-Year Report 2020-21 pdf icon PDF 462 KB

To consider the mid-year Treasury Management report for 2020-21.

 

RECOMMENDATION Council is recommended to note:

 

1)           Appendix A, the Treasury Management Mid-Year report which was agreed at Audit Committee on 23rd November 2020;

 

2)           that all approved indicators set out in the Treasury Management Strategy have been adhered to and that prudent and safe management has been maintained and;

 

3)           that the Council’s Chief Finance Officer is able to appraise Council of any supplementary information considered to be relevant to their consideration

 

Additional documents:

Minutes:

The Council considered the Treasury Management Mid Year Report 2020-21, set out at Agenda pages 91 to 102.

 

It was proposed by John Kaiser and seconded by Daniel Sargeant that the recommendations, as set out in the report, be agreed.

 

John Kaiser praised the Council’s financial position.

 

Daniel Sargeant commented that the report demonstrated the Council’s excellent financial management.  He welcomed the constitutional clarification by Officers but commented that this had also been provided at the Audit Committee previously.

 

Rachel Burgess stated that the definition of the net cost of borrowing presented within the report, kept changing and that there was no consistency.  The £7.52 figure was the net cost of borrowing once it had been reduced by netting off other incomes such as treasury investment income.  She questioned the inclusion of recommendation three in the report.

 

Maria Gee stated that it was important to gauge trends in performance and this was difficult if the presentation changed year on year.  She requested transparency in future reports.

 

John Halsall stated that the presentation was determined by Ernst & Young and CIPFA.

 

RESOLVED:  That Council note:

 

1)           Appendix A, the Treasury Management Mid-Year report which was agreed at Audit Committee on 23rd November 2020;

 

2)           All approved indicators set out in the Treasury Management Strategy have been adhered to and that prudent and safe management has been maintained

 

and;

 

3)           That the Council’s Chief Finance Officer is able to appraise Council of any supplementary information considered to be relevant to their consideration

 


Meeting: 18/02/2021 - Council (Item 107)

107 Treasury Management Mid-Year Report 2020-21 pdf icon PDF 476 KB

To consider the mid-year Treasury Management report for 2020-21.

 

RECOMMENDATION that Council note:

 

1)           Appendix A, the Treasury Management Mid-Year report which was agreed at Audit Committee on 23rd November 2020;

 

2)           that all approved indicators set out in the Treasury Management Strategy have been adhered to and that prudent and safe management has been maintained;

 

3)           the table below which shows the net benefit per council tax payer, from the income generated less the financing costs on all borrowing to date equates to £7.20 which is 0.47% of the average band D council tax charge.  This credit provides income to the Council to invest in its priority services.

 

Additional documents:

Minutes:

The Council considered the mid-year Treasury Management report for 2020/21, as set out at Agenda pages 147 to 156.

 

Maria Gee raised a point of order in relation to Paragraphs 4.4.4 and 4.4.4.1 of the Constitution and the provisions of the Local Code of Governance. The point of order related to the Constitutional role of the Audit Committee vis-a-vis the Executive in relation to the submission of Treasury Management reports to Council.

 

The Mayor confirmed that consideration of the Treasury Management Mid-Year Report 2020/21 would be deferred to the next meeting to enable investigation of the procedural points raised by Councillor Gee.

 

RESOLVED: That consideration of the Treasury Management Mid-Year Report 2020/21 be deferred to the next meeting of Council in March 2021.


Meeting: 28/01/2021 - Executive (Item 75)

75 Treasury Management Mid-Year Report 2020-21 pdf icon PDF 478 KB

Additional documents:

Decision:

That:

 

1)              Appendix A, the Treasury Management Mid-Year report which was agreed at Audit Committee on 23rd November 2020, be noted;

 

2)              it be noted that all approved indicators set out in the Treasury Management Strategy have been adhered to and that prudent and safe management has been maintained;

 

3)              the table in the report which shows the net benefit per council tax payer, from the income generated less the financing costs on all borrowing to date, equates to £7.20 which is 0.47% of the average band D council tax charge, be noted. This credit provides income to the Council to invest in its priority services;

 

4)              the report be noted and recommended to Council.

Minutes:

The Executive considered a report setting out a summary of the Treasury Management operations during the first six months of 2020/2021.

 

The Executive Member for Finance and Housing drew Members’ attention to the table within the report which showed a net benefit per council tax payer, from the income generated less the financing costs on all borrowing to date of £7.20, which was 0.47% of the average Band D council tax charge.   Councillor Kaiser advised that this was achieved because the Council had assets which generated income which was not only used to pay interest on borrowings for those assets but borrowings for other projects eg forward funding infrastructure etc. 

 

In addition, Councillor Kaiser mentioned the schemes that were being delivered using these borrowings which included, delivery of affordable homes and the regeneration of Wokingham town centre.

 

RESOLVED that:

 

1)              Appendix A, the Treasury Management Mid-Year report, which was agreed at Audit Committee on 23rd November 2020, be noted;

 

2)              it be noted that all approved indicators set out in the Treasury Management Strategy have been adhered to and that prudent and safe management has been maintained;

 

3)              the table in the report which shows the net benefit per council tax payer, from the income generated less the financing costs on all borrowing to date equates to £7.20 which is 0.47% of the average band D council tax charge, be noted. This credit provides income to the Council to invest in its priority services;

 

4)              the report be noted and recommended to Council.