Issue - meetings

[To consider an update on the treasury management activity for the second quarter of 2016/17 as part of the mid-year review]

1.     That a mid-year review of the Treasury Management Strategy Statement had been undertaken and the Council had operated within the limits and requirements approved in March 2016 be noted.

2.     That savings of £533,000 for the General Fund and £2.3 million for the Housing Revenue Account (HRA) were forecast from treasury management activities in 2016/17 be noted.

Councillor Andrew Johnson presented a monitoring and progress report on treasury management activity for the second quarter of 2016/17 as part of the mid-year review, in line with the Prudential Indicators approved by Council in March 2016.

Councillor Andrew Wynn noted that the Treasury Management Report was well presented, however was concerned in relation to the micro economic factors which had enabled the council to forecast savings and that the council needed to proceed on the side of caution on financial engineering. He further added that the general reserve be built and replenished.

Councillor Andrew Johnson agreed  with the comments made and clarified the council was moving to replenish the general reserve and that the Treasury Management Team kept a close eye on the market and external advisors also provide assurance that the council was acting decisively  in the macro environment.

Councillor Andrew Johnson proposed and Councillor Peter Bilson seconded the recommendations.

Resolved:

1.     That a mid-year review of the Treasury Management Strategy Statement had been undertaken and the Council had operated within the limits and requirements approved in March 2016 be noted.

2.     That savings of £533,000 for the General Fund and £2.3 million for the Housing Revenue Account (HRA) were forecast from treasury management activities in 2016/17 be noted.

[To consider an update on the treasury management activity for the second quarter of 2016/17 as part of the mid-year review]

That Council be recommended to note:

1. That a mid-year review of the Treasury Management Strategy Statement had been undertaken and the Council had operated within the limits and requirements approved in March 2016.
2. That savings of £533,000 for the General Fund and £2.3 million for the Housing Revenue Account (HRA) are forecast from treasury management activities in 2016/17.
3. That it be noted in the event of updated capital programme figures being reported to Cabinet (Resources) Panel or Cabinet outside of the ‘Capital budget quarter two monitoring 2016/17’, a revised version of this report would be presented to Council on 14 December 2016.

Councillor Andrew Johnson presented a monitoring and progress report on treasury management activity for the second quarter of 2016/17 as part of the mid-year review, in line with the Prudential Indicators approved by Council in March 2016.

Resolved:

That Council be recommended to note:

1. That a mid-year review of the Treasury Management Strategy Statement had been undertaken and the Council had operated within the limits and requirements approved in March 2016.
2. That savings of £533,000 for the General Fund and £2.3 million for the Housing Revenue Account (HRA) were forecast from treasury management activities in 2016/17.
3. That it be noted in the event of updated capital programme figures being reported to Cabinet (Resources) Panel or Cabinet outside of the ‘Capital budget quarter two monitoring 2016/17’, a revised version of this report would be presented to Council on 14 December 2016.