Agenda item

(See pages 77 - 86 of the main agenda.)

Councillor Fiona Colley spoke to the report.

RESOLVED:

1.  That council assembly noted the 2017-18 mid-year treasury management update report and that:

  i.  all treasury management activity in the period was undertaken in compliance with the approved treasury management strategy and with the council’s prudential indicators as shown in appendix one to the report.

  ii.  in the six months to 30 September 2017 the sum invested averaged £137m and the balance of investments at 30 September 2017 stood at £116m.

  iii.  the balance on all loans at 30 September 2017 was £455m.  Loans totalling £2.5m matured and were repaid as scheduled during the year, with a further £2.5m due to mature in the second half of 2017-18. No new borrowing or debt rescheduling was undertaken during the period.

  iv.  as indicated as part of the capital monitoring report taken to cabinet on 19 September 2017, it is likely that external borrowing will be required in 2017-18 to finance the capital programme. Options to identify the most appropriate source of financing will be appraised by the strategic director of finance and governance in conjunction with the cabinet member for finance, modernisation and performance. 

  v.  The Treasury Strategy 2018-19 will be presented to council assembly in February 2018.