Issue - meetings

Report of the Corporate Director (Resources, Environment and Cultural Services) on the current treasury position and treasury management indicators.

The current treasury position and Treasury Management Indicators was noted.

Report of the Corporate Director (Resources, Environment and Cultural Services) on the current treasury position and treasury management indicators.

(1)        The Decision Taken

RESOLVED:

That the current treasury position and Treasury Management Indicators be noted.

(2)        Reasons for the Decision

In accordance with the Treasury Management Strategy this report provided a mid-year update on the Council’s treasury activities from 1 April to 30 September 2018 including details of the investment and loans portfolios, confirmed the Council’s compliance with its Treasury Management approved indicators and provided an economic update from treasury advisors.

No new external borrowing had been undertaken during the period and Housing Revenue Account borrowing, originally £305M had now been reduced to £228M implying £77M of “headroom” within the borrowing limit. New borrowing was likely during the second half of the year, although this was not currently forecast to exceed repayments of existing debt during the period.

Cash balances were forecast to fall through 2018/19 as the capital investment programme continued and there had therefore been an emphasis on maintaining liquidity.