Decision details

Treasury Management Activity Monitoring Quarter Three 2020-2021

Decision Maker: Cabinet (Resources) Panel

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No


To approve the Treasury Management Activity Monitoring Quarter Three 2020-2021 report.


1.      That it be noted that the Council is continuing to operate within the Prudential and Treasury Management Indicators approved by Council, and also within the requirements set out in the Council’s approved Treasury Management Strategy for 2020-2021.


2.      That it be noted that revenue underspends of £2.4 million for the General Revenue Account and £800,000 for the Housing Revenue Account (HRA) are forecast from treasury management activities in 2020-2021, arising as a result of re-phasing of the capital programme and lower interest rates forecast on borrowing due to the impact on the economy of Covid-19.


3.      That it be noted that two of the three credit rating agencies have downgraded the UK’s credit rating.  If the remaining credit rating agency follows suit the Director of Finance would lower the minimum sovereign rating in the Annual Investment Strategy in line with the delegated authority approved by Council on 17 July 2020.

Report author: Sarah Hassell

Publication date: 18/03/2021

Date of decision: 17/03/2021

Decided at meeting: 17/03/2021 - Cabinet (Resources) Panel

Accompanying Documents: