[Alison Shannon, Chief Accountant,to present report]

Alison Shannon, Chief Accountant, presented the Treasury Management and quarterly monitoring activity report and highlighted areas that would be of interest to the panel. The Chief Accountant commented on discussions with treasury management advisers to consider future interest rates changes and the financial implications depending on different outcomes for current Brexit discussions.

The Chief Accountant commented on main findings and the panel were invited to comment on the reports.

The panel queried the reasons for submitting the report to the panel which had previously been shared with Councillors in other meetings. The Director of Finance commented that the panel has specific responsibility within the regulations to assure itself that the Council is complying with its financial obligations. The Director of Finance also explained that the comments from the panel on these reports will be fed into future developments of the treasury management strategy.

The Director Finance commented on the treasury management training session and how it would contribute to better understanding of the information presented to the panel. The Director of Finance welcomed comments from the panel on the training session.

The panel discussed the Council’s cash flow balances and the average cash balances figures detailed in the report.

Resolved:

1.    The panel agreed to note the report.

2.    The panel was satisfied that the Council is operating 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 2018-19.

3.