Issue - meetings

That the Annual Treasury Management Report for 2019/20 be approved.

The Corporate Finance Manager presented the Treasury Management Annual Report for 2019/20 for approval, following consideration by the Audit Committee and Cabinet.  He drew attention to the key points of the report and confirmed that the Treasury Management function had operated within the limits detailed in the Strategy for the period.  To assist in developing the Treasury Management Strategy for 2021/22, a training session with the Council’s treasury management advisors would take place remotely on 9 December 2020.  To accommodate requests from some Members, officers would look at the possibility of an additional evening session.

The recommendation in the report was moved by Councillor Chris Dolphin who thanked the Corporate Finance Manager and his team for their work.  The proposal was seconded by Councillor Glyn Banks who encouraged all Members to attend the forthcoming training session.

Councillor Peers noted the allocation of Public Works Loan Board (PWLB) loans for NEW Homes and asked about plans for the balance.  The Corporate Finance Manager said that the loans had been taken out to take advantage of current low interest rates to meet the Council’s requirement for long-term borrowing and were not allocated to specific capital projects.

Having been moved and seconded, the recommendation was put to the vote and carried.

RESOLVED:

That the Annual Treasury Management Report for 2019/20 be approved.