Decision details

Half Yearly Treasury Management Report for the Period Ended 30 September 2020

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

This report provides a summary of the Council's Treasury Management activities during the first six months of the year.

Decisions:

“The UK economy continues to face an uncertain environment in 2020/21, with Brexit negotiations and the impacts of the continuing Covid-19 pandemic. The County Council adheres to its Treasury Management Policy of using internal cash balances instead of borrowing money. This has delivered significant savings

for taxpayers, as the infrastructure to deliver more skilled, better-paid jobs is being funded at a lower cost.”

 

Mike Sutherland, Cabinet Member for Finance and Corporate Matters

 

Reasons for the Decision – To consider a summary of the Council’s borrowing and investment activities during the first six months of the year.

 

Decision – (a) That the treasury management activities for the half-year ended 30 September 2020 be noted.

 

(b) That the Prudential Indicators (as detailed in Appendix 2 to the report) be noted and that the increase to the Upper Limit of variable rate interest exposure (as detailed in paragraph 42 of the report) be agreed.

Report author: Justin Madden

Publication date: 19/11/2020

Date of decision: 18/11/2020

Decided at meeting: 18/11/2020 - Cabinet

Effective from: 25/11/2020

Accompanying Documents: