Issue - meetings

Report of the County Treasurer (CT/20/47) on the Treasury Management Stewardship Outturn, previously considered and commended to the Cabinet by the Corporate Infrastructure and Regulatory Services Scrutiny Committee held on 24^th June 2020 (Minute *180 refers), attached.

(Councillors Connett, Dewhirst, Greenslade and Hannaford attended remotely in accordance with Standing Order 25(2) and the Local Authorities and Police and Crime Panels (Coronavirus) (Flexibility of Local Authority and Police and Crime Panel Meetings) (England and Wales) Regulations 2020 and spoke to this item).

The Cabinet considered the Report of the County Treasurer (CT/20/47) outlining the Treasury Management action taken during the last financial year (in line with the CIPFA Code of Practice previously adopted by the Council) which had also been considered and endorsed by the Corporate Infrastructure and Regulatory Services Scrutiny Committee on 24th June 2020 and subsequently commended to the Cabinet (Minute *180 referred).

The Report highlighted the outturn position, reviewed performance and key matters arising from the Council's Treasury and Debt Management activities during the 2019/20 financial year. The Report also included an update on the 2020/21 Strategy and detailed the minimum revenue position, treasury management outturn position 2019/20 – borrowing and investments, prudential indicators, and a 2020/21 update.

The Scrutiny Committee had resolved that the Treasury Management outturn position 2019/20 be commended to the Cabinet and the County Treasurer’s Treasury Team be congratulated for the positive outturn for 2019/20.   

It was then MOVED by Councillor Barker, SECONDED by Councillor Hart, and

RESOLVED that the Corporate Infrastructure and Regulatory Services Scrutiny Committee be thanked for their review of the Annual Treasury Management Stewardship Report for 2019/2020 and that the document be further endorsed.

Report of the County Treasurer (CT/20/47) attached.

The Committee considered the Report of the County Treasurer (CT/20/47)  on the outturn position, review of performance and key matters arising from the Council's Treasury and Debt Management activities during the 2019/20 financial year. The Report also included an update on the 2020/21 Strategy and detailed the minimum revenue position, treasury management outturn position 2019/20 – borrowing and investments, prudential indicators, and a 2020/21 update.

In discussion with the County Treasurer, Members referred to other investment opportunities arising from the low level of returns and associated additional risk.

It was MOVED by Councillor A Dewhirst, SECONDED by Councillor J Hodgson, and

RESOLVED that the Treasury Management outturn position 2019/20 be commended to the Cabinet and the County Treasurer’s Treasury Team be congratulate for the positive outturn for 2019/20.