Issue - meetings

[To approve matters relating to the year-end position with regards to treasury management arrangements.]

1.     That the revised Minimum Revenue Provision (MRP) statement setting out the method used to calculate MRP for 2017-2018, in particular, the change regarding investment assets which was being backdated to 1 April 2013, as set out in appendix F of the report.

2.     That it be noted, the Council operated within the approved Prudential and Treasury Management Indicators, and also within the requirements set out in the Council’s approved Treasury Management Policy Statement during 2016-17.

3.     That it be noted, the revenue savings of £1.7 million for the General Fund and £2.5 million for the Housing Revenue Account were generated from treasury management activities in 2016-17.

4.     That it be noted, the revenue savings of £810,000 for the General Fund and £329,000 for the Housing Revenue Account were forecast from treasury management activities in 2017-18.

Councillor Andrew Johnson presented the Treasury Management Annual Report and Activity Monitoring 2017/18 report. He advised the report provided the results of treasury management activities carried out in 2016-17, together with performance against the Prudential Indicators previously approved by Council.  He added it also provided a monitoring and progress report on treasury management activity for the first quarter of 2017-18, in line with the Prudential Indicators approved by Council in March 2017.

Councillor Andrew Johnson placed on record his appreciation of the Treasury Management Team.

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

Resolved:

1.    That the revised Minimum Revenue Provision (MRP) statement setting out the method used to calculate MRP for 2017-2018, in particular, the change regarding investment assets which was being backdated to 1 April 2013, as set out in appendix F of the report.

2.    That it be noted, the Council operated within the approved Prudential and Treasury Management Indicators, and also within the requirements set out in the Council’s approved Treasury Management Policy Statement during 2016-17.

3.    That it be noted, the revenue savings of £1.7 million for the General Fund and £2.5 million for the Housing Revenue Account were generated from treasury management activities in 2016-17.

4.    That it be noted, the revenue savings of £810,000 for the General Fund and £329,000 for the Housing Revenue Account were forecast from treasury management activities in 2017-18.

[To approve matters relating to the year-end position with regards to treasury management arrangements and activity and to receive an update on treasury management activity in 2016/17 to date.]

That Council be recommended to:

1. Approve the revised Minimum Revenue Provision (MRP) statement setting out the method used to calculate MRP for 2017-2018, in particular the change regarding investment assets which is being backdated to 1 April 2013, as set out in appendix F to the report.

2. Note that the Council operated within the approved Prudential and Treasury Management Indicators, and also within the requirements set out in the Council’s approved Treasury Management Policy Statement during 2016-2017.

3. Note that revenue savings of £1.7 million for the General Fund and £2.5 million for the Housing Revenue Account were generated from treasury management activities in 2016-2017.

4. Note that revenue savings of £810,000 for the General Fund and £329,000 for the Housing Revenue Account are forecast from treasury management activities in 2017-2018.

1. That it be noted that the capital programme figures included in this report assumes that the updated requests for capital resources which were reported to Cabinet (Resources) Panel on 27 June 2017 and Council on 19 July 2017 are approved. If this were not to be the case revised figures would be provided to Council on 20 September 2017.

Councillor Andrew Johnson presented the Treasury Management - Annual Report 2016-17 and Activity Monitoring Quarter One 2017-18 for recommendation to Council. The report set out the results of treasury management activities carried out in 2016-17 and illustrated the performance against the agreed Prudential Indicators. The report also outlined the treasury management monitoring and progress for the first quarter of 2017-18. The revised Minimum Revenue Provision (MRP) statement set out the method used to calculate MRP for 2017-18, in particular, the change regarding investment assets which was being backdated to 1 April 2013, as set out in appendix F to the report.

Resolved:

That Council be recommended to:

1. Approve the revised Minimum Revenue Provision (MRP) statement setting out the method used to calculate MRP for 2017-18, in particular the change regarding investment assets which is being backdated to 1 April 2013, as set out in appendix F to the report.

2. Note that the Council operated within the approved Prudential and Treasury Management Indicators, and also within the requirements set out in the Council’s approved Treasury Management Policy Statement during 2016-17.

3. Note that revenue savings of £1.7 million for the General Fund and £2.5 million for the Housing Revenue Account were generated from treasury management activities in 2016-17.

4. Note that revenue savings of £810,000 for the General Fund and £329,000 for the Housing Revenue Account are forecast from treasury management activities in 2017-18.

5. That it be noted that the capital programme figures included in this report assumes that the updated requests for capital resources which were reported to Cabinet (Resources) Panel on 27 June 2017 and Council on 19 July 2017 are approved. If this were not to be the case revised figures would be provided to Council on 20 September 2017.