Issue - meetings

That the Treasury Management Mid-Year Report 2019/20 be approved.

The Corporate Finance Manager introduced the Treasury Management Mid-Year Report 2019/20.  A summary of the key points were set out in the report.

            Members of the Audit Committee received a copy of the report on 20^th November and recommended it to Cabinet.  Cabinet received the Mid-Year report on 17^th December 2019 and recommended it to Council for approval.

            Councillor Banks moved the recommendation which was seconded by Councillor Chris Dolphin.

            Councillor Peers asked for additional information on the two new long term loans that had been taken out from the Public Works Loans Board in 2019/20.  The Corporate Finance Manager explained that there was a need to borrow to fund the Capital Programme and she could provide further details if required.  Interest rates from central government had been low which meant that fixing long term re-payments offered financial value to the Council.

On being put to the vote the recommendation was carried.

RESOLVED:

That the Treasury Management Mid-Year Report 2019/20 be approved.