Cabinet Member for Finance and Resources
“We always look to achieve the best value for money for our tax payers and we do this by running an efficient county council.
Coping with the Covid-19 pandemic continues to put additional pressures on resources, but we continue to manage our finances prudently while doing and spending what is required. By using cash reserves rather than borrowing more, we have been able to achieve substantial savings in what still remain challenging times.
As well as being prudent, our low risk investment strategy which focuses on lending to low risk institutions, means we have been well placed to deal with challenges arising from the UK leaving the European Union and the ongoing pandemic.
We continue to provide advice and support along with access to funding for local businesses, as we work to get our economy back on track.
Like many other councils we continue to face financial pressures and uncertainty over long term funding of some services. We will continue to spend and invest where necessary, focusing our efforts and resources on where they are most needed.”
Ian Parry, Cabinet Member for Finance and Resources
Reasons for the Decision – To inform the Cabinet of the Council’s investment and borrowing activity during 2020/21 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 2021, 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 2021, as set out in paragraphs 31 and 32 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 UK’s decision to leave the European Union and pressures caused by the Covid-19 pandemic and that Officers will continue to monitor the position.