539 Treasury Management Mid-Year Update PDF 28 KB
Additional documents:
Decision:
Having considered an officer report, and a presentation by the Cabinet
Member for Resources, Councillor Kevin Bonavia, the Mayor agreed that:
(1) macro economic context, performance of investments to date, updates on
capital expenditure and borrowing in line with CIPFA requirements and the
Council’s treasury management strategy be noted:
(2) changes to the Treasury Indicators and Limits in respect of the fixed
interest rate borrowing to reflect the maturing structure of the existing
borrowing portfolio be noted;
(3) officers be authorised to work to explore the options, as a non-specified
investment, of pooled investment funds and residential mortgage backed
securities for periods of greater than twelve months and that, if required,
changes to non-specified investments in the Annual Investment Strategy be
brought forward when the treasury strategy is reset with the budget in
February 2017.
Minutes:
The Mayor agreed to accept this late item. Officers had stated the report was
not available for the original dispatch because of officers needing additional
time to complete their review of the current Treasury Management
performance and prepare the report. The report was urgent and could not wait
until the next meeting of the Mayor & Cabinet on 11 January 2017 to comply
with the requirement of the CIPFA Treasury Management Code of Practice
and to enable Members to note the position of the Council’s Treasury
Management Strategy before considering the Treasury Management Strategy
with the Council’s budget in the New Year.
Having considered an officer report, and a presentation by the Cabinet
Member for Resources, Councillor Kevin Bonavia, the Mayor, for the reasons
set out in the report:
RESOLVED that:
(1) macro economic context, performance of investments to date, updates on
capital expenditure and borrowing in line with CIPFA requirements and the
Council’s treasury management strategy be noted:
(2) changes to the Treasury Indicators and Limits in respect of the fixed
interest rate borrowing to reflect the maturing structure of the existing
borrowing portfolio be noted;
(3) officers be authorised to work to explore the options, as a non-specified
investment, of pooled investment funds and residential mortgage backed
securities for periods of greater than twelve months and that, if required,
changes to non-specified investments in the Annual Investment Strategy be
brought forward when the treasury strategy is reset with the budget in
February 2017.
The meeting closed at 6.51pm