Issue - meetings

That the Treasury Management Mid-Year Report 2020/21 be approved.

The Corporate Finance Manager introduced a report to present the draft Treasury Management Mid-Year Review for 2020/21.  He advised that the Treasury Management Mid-Year Report for 2020/21 was appended to the report and required formal Council approval.

The Corporate Finance Manager advised that the Mid-Year Report reviewed the activities and performance of the treasury management operations during the period 1 April to 30 September 2020.  As required by the Council’s Financial Procedure Rules the Mid-Year Report was reviewed by the Audit Committee on 18 November 2020 and Cabinet on 15 December 2020.  The Audit Committee had no matters to draw to the Cabinet or Council’s attention.  The Corporate Finance Manager  referred to the key points which were summarised in the report.

Councillor Glyn Banks commented that the Authority’s prudent stance had served it well during last year’s unprecedented challenges and thanked the Finance Team and the Council’s advisor Arlingclose and the Audit Committee for their work.  He moved the recommendation in the report to Council for approval. Councillor Chris Dolphin seconded the proposal.

The Corporate Finance Manager responded to the question raised by Councillor Mike Peers on the year-end projections in section 5.04 of the report and provided further explanation around the information on investments and borrowing

RESOLVED: 

That the Treasury Management Mid-Year Report 2020/21 be approved.