Issue - meetings

To report on the Council’s treasury management activities and Prudential Indicators for 2016/17.

(a)   notes the Treasury Management performance position for 2016/17; and

(b)   approves the Prudential and Treasury Indicators for 2016/17.

There was submitted a report by the Portfolio Holder for Resources and Corporate Services (Report A.9), which reported on the Council’s treasury management activities and Prudential Indicators for 2016/17.

Cabinet was informed that borrowing and investments had been undertaken in accordance with the 2016/17 Annual Treasury Strategy that had been approved by full Council on 5 April 2016. No external borrowing had been undertaken in 2016/17 for either the General Fund or the Housing Revenue Account.

It was reported that the amount of interest earned from investments remained low because of the continuing unprecedentedly low interest rates existing throughout the year, which had been cut further in August 2016 to 0.25%.  However, due to maximising investment opportunities and cash flow advantages during the year interest returns had been in line with the budget forecast.

The treasury performance figures for the year were set out in Appendix A to the report, together with the Prudential Indicators attached as Appendix B, for Cabinet’s consideration.

Having considered the information submitted:

It was moved by Councillor G V Guglielmi, seconded by Councillor Stock and:

RESOLVED that Cabinet -

(a)       notes the Treasury Management performance position for 2016/17; and

(b)       approves the Prudential and Treasury Indicators for 2016/17.