Issue - meetings

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

1.    That it be noted, the Council operated within the approved Prudential and Treasury ManagementIndicators, and also within the requirements set out in the Council’s approved TreasuryManagement Policy Statement during 2018-2019.

2.    That it be noted, a revenue net overspend of £2.2 million for the General Revenue Account and anunderspend of £195,000 for the Housing Revenue Account were generated from treasurymanagement activities in 2018-2019.

3.    That it be noted, a break even position for the General Revenue Account and an underspend of £910,000for the Housing Revenue Account were forecast from treasury management activities in2019-2020.

Councillor Louise Miles presented the Treasury Management-Annual Report 2018-2019 and Activity Monitoring Quarter One 2019-2020 report for approval. She advised the report sets out the results of treasury management activities carried out in 2018-2019, together with performance against the Prudential Indicators previously approved by Council. She added the report also provided a monitoring and progress report on treasury management activity for the first quarter of 2019-2020, in line with the Prudential Indicators approved by Council in March 2019.

She added the activity had taken place in accordance with the required rules and regulations. Also that the changes of rules had impacted the minimal revenue provision.

Councillor Louise Miles proposed the recommendations and the Leader of the Council, Councillor Ian Brookfield seconded the recommendations.

In response to Councillor Wendy Thompson question, Councillor Louise Miles agreed to provide a written response on the average cashflow balance for 2018/2019.

Resolved:

1. 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 2018-2019.
2. That it be noted, a revenue net overspend of £2.2 million for the General Revenue Account and an underspend of £195,000 for the Housing Revenue Account were generated from treasury management activities in 2018-2019.
3. That it be noted, a breakeven position for the General Revenue Account and an underspend of £910,000 for the Housing Revenue Account were forecast from treasury management activities in 2019-2020.