Issue - meetings

Report of the County Treasurer (CT/16/102) outlining the Council's Treasury and Debt Management activities during the first half of the 2016/17 financial year previously considered and endorsed by the Corporate Services Scrutiny Committee on 28 November 2016, attached.

(Councillors Connett and Westlake attended in accordance with Standing Order 25(2) and spoke to this item).

The Cabinet considered the Report of the County Treasurer (CT/16/102) outlining the Council’s Treasury and Debt Management activities undertaken during the first half of 2016/17 in line with the CIPFA Code of Practice which had been considered and endorsed by the Corporate Services Scrutiny Committee on 28 November 2016. 

The County Treasurer’s Report had confirmed that there were no particular issues to draw to the attention of the Cabinet as part of that process.  There had been no long term borrowing to date in the current year and it was not anticipated there would be any need for any new borrowing during the remainder of the current financial year.  While some short term borrowing had been required to date there had ultimately been a financial gain to the Council through re-investment of those funds at a higher rate. The Report confirmed that estimated investment income for the current year would also be achieved.

The matter having been debated and the options and/or alternatives and other relevant factors set out in the County Treasurer’s Report and/or referred to above having been considered:

It was MOVED by Councillor Clatworthy, SECONDED by Councillor Hart and

RESOLVED that the Mid-Year Stewardship Report for the 2016/17 financial year be noted and welcomed.