Decision details

Approval of Annual Report

Report of the Executive Director (Resources, Environment and Cultural Services) reviewing treasury management activity and prudential indicators for the 2016/17 financial year and seeking approval of amendments to treasury management practices which supported the strategy.

(1)        The Decision Taken

RESOLVED:

That the report and actual treasury management prudential indicators for 2016/17 be noted and amendments to the treasury management practices be agreed.

(2)        Reasons for the Decision

The 2016/17 Treasury Management Strategy was approved by the Council at its special meeting on 1 February 2016 (Minute 55(1)(h) refers).

As the Council had borrowed and invested substantial sums of money it was exposed to financial risks, including the loss of invested funds and the revenue effect of changing interest rates. The successful identification, monitoring and control of risk was therefore central to the Council’s treasury management strategy.

All treasury management activity undertaken during the financial year complied with the approved strategy, relevant legislative provisions and good practice.

(Note:  There were no declarations of interests by a Member(s) in respect of the matter decided.)