Issue - meetings
Quarter 4 Treasury Management Update 2020/21
Meeting: 24/03/2021 - Audit Committee (Item 38)
38 Quarter 4 Treasury Management Update 2020/21 
PDF 119 KB
Additional documents:
- Enc. 1 - Investment portfolio as at 28-02-21, item 38
PDF 23 KB
- Enc. 2 - Long-term borrowing as at 28-02-21, item 38
PDF 139 KB
- Enc. 3 - Short-term borrowing as at 28-02-21, item 38
PDF 21 KB
- Webcast for Quarter 4 Treasury Management Update 2020/21
Decision:
(a) That the Treasury Management 2020/21 quarterly update be endorsed; and
(b) That officers investigate options on how best to present the data in future reports.
Minutes:
The Interim Technical Finance Manager presented the quarterly update on matters relating to the Council’s Treasury Management Policy, Strategy and Practices to the end of February 2021. The Council’s position on investments and long and short term borrowing was reported, together with an update on the economic context and interest rate forecast.
Allan Rainford raised a number of points on the investment and short-term borrowing portfolios. The Interim Technical Finance Manager explained that the use of Money Market Funds (MMF) helped to diversify investments within the scope of the strategy, and that investments were managed daily to maximise the position and to plan ahead.
In response to a question from Sally Ellis, it was explained that use of MMFs met the Council’s prudent approach to investments - particularly during the emergency situation - to manage risk and return.
On the format of the appendices, Councillor Paul Johnson suggested that the investment portfolio include the total from the previous year for comparison and that the short-term borrowing portfolio be listed in order of start date to see the pattern of borrowing throughout the period. In response to a further question, there was no significant impact on cashflow arising from the emergency situation.
As Cabinet Member for Finance, Councillor Glyn Banks welcomed the findings of the report.
The Chief Officer (Governance) suggested that officers consider the comments made by Councillor Johnson to identify a more accessible way to present the information.
This was agreed by the Corporate Finance Manager who said that similar enhancements could be reflected in the outturn report due later in the year.
On that basis, the recommendation was moved by Councillor Paul Johnson and seconded by Sally Ellis.
RESOLVED:
(a) That the Treasury Management 2020/21 quarterly update be endorsed; and
(b) That officers investigate options on how best to present the data in future reports.