Decision details

Treasury Management Report for the Year Ended 31 March 2017

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

Report is a summary of the County Council's investment and borrowing activity during 2016/17. It considers both borrowing and investment decisions taken throughout the year in the light of the interest rates and economic conditions prevailing at the time.

Decisions:

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“The historic Brexit vote in 2016/17 meant that uncertainties associated with the UK economy continued. The County Council still faced risks in undertaking its treasury management activities and retained its policy of not borrowing money, choosing to use internal cash balances instead. This has delivered significant savings for taxpayers, as the infrastructure to deliver more skilled, better-paid jobs is being funded at a lower cost.

 

Ian Parry, Deputy Leader and Cabinet Member for Strategy, Finance and Corporate Issues

 

Reasons for the Decision – To inform the Cabinet of the Council’s investment and borrowing activity during 2016/17 including both borrowing and investment decisions taken throughout the year in the light of the interest rates and economic conditions prevailing at the time.

 

Decision – (a) That the treasury management activities for the year ended 31 March 2017, including the Prudential Indicators outturn detailed in Appendix 4 to the report, be noted.

 

(b) That the use of the Minimum Revenue Provision at 31 March 2017 as set out in paragraphs 33 and 34 of the report be approved.

 

(c) That it be noted that the current Annual Investment Strategy is considered prudent and sufficiently robust to meet any market challenges created by the vote for the UK to leave the European Union and that Officers will continue to monitor the position.

Report author: Johirul Alam

Publication date: 20/07/2017

Date of decision: 19/07/2017

Decided at meeting: 19/07/2017 - Cabinet

Effective from: 26/07/2017

Accompanying Documents: