Decision details

(Cabinet Member with Special Responsibility Councillor Whitehead)

Cabinet received a report from the Chief Finance Officer which sought Cabinet’s consideration of various matters in connection with the Treasury Management Mid-Year Review 2020/21. 

The Mid-Year Review as set out in Appendix A to the report set out the performance of treasury operations for the first six months of the 2020/21 financial year in terms of long- and short-term borrowing, investment activities and relevant borrowing limits and prudential indicators.

Under CIPFA’s Code of Practice on Treasury Management (the Code) and the CIPFA Prudential Code for Capital Finance in Local Authorities (the Prudential Code) it was a requirement that an information report on these matters be presented to Cabinet and full Council.  As the report was for consideration and progressing to Council no alternative options were put forward.

Councillor Whitehead proposed, seconded by Councillor Hamilton-Cox:-

“That the recommendations, as set out in the report, be approved.”

Councillors then voted:-

Resolved unanimously:

(1)   That the various matters in connection with the Treasury Management Mid-Year Review 2020/21 be considered and endorsed.

(2)  That the Mid-Year Review 2020/21 be forwarded on to Budget & Performance Panel and Full Council for consideration in accordance with CIPFA Code of Practice on Treasury Management (the Code) and the CIPFA Prudential Code for Capital Finance in Local Authorities (the Prudential Code.)

Officer responsible for effecting the decision:

Chief Finance Officer

Reasons for making the decision:

Treasury Management forms part of the Council’s Budget Framework and effective Treasury Management and use of the Councils’ resources is fundamental to the delivery of its priorities and outcomes.  Consideration of the Treasury Management Mid-Year Review and presentation to Full Council will ensure that the Council complies with CIPFA’s Code of Practice on Treasury Management (the Code) and the CIPFA Prudential Code for Capital Finance in Local Authorities (the Prudential Code).