Issue - meetings

2014/15 Treasury Management Update

Meeting: 18/03/2015 - Audit Committee (Item 65)

65 2014/15 Treasury Management Update pdf icon PDF 66 KB

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That the report be accepted.


The Finance Manager - Technical Accountancy introduced the quarterly update on matters relating to the Council’s Treasury Management Policy, Strategy and Practices 2014/15 to the end of February 2015.  She reported no new borrowing during the period and drew attention to the economic update from the Council’s treasury management advisors in respect of projected changes on bank interest rates and gilt yields.  An update was also provided on the bail-in regime and its impact on the number of counterparties with whom the Council could invest.


An update on investments reported that the balance at the end of February 2015 had been £48.8m spread across 20 counterparties with an average interest rate of 0.54%.  There was no significant change from the previous quarter where the investment balance of £52.4m had been spread across 19 counterparties with an average interest rate of 0.55%.


Following a request from Councillor Haydn Bateman, it was agreed that investment balance details for the previous year’s quarter would be indicated in future reports for comparison purposes.




That the report be accepted.