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Issue - meetings
Annual Treasury Management Outturn Report 2018/19
Meeting: 30/07/2019 - Audit Committee (Item 60)
60 Annual Treasury Management Outturn Report 2018/19 PDF 320 KB
Minutes:
The Chair brought this item forward on the agenda.
The Assistant Director, Financial Services and Revenues (Chief Finance Officer), presented a report to provide the Committee with an opportunity to scrutinise the Treasury Management activities and performance of the last financial year.
The Council is required by regulations issued under the Local Government Act 2003 to produce an annual treasury management review of activities and the actual prudential and treasury indicators for 2018/19.
The Assistant Director informed the Committee that no recommendations have been made to amend the current Treasury Management Strategy though there may be in-year changes following the mid-year review of 2019/20 activity.
In response to a question regarding the increase in the Council’s borrowing the Assistant Director advised that the Final Accounts 2018/19 include a breakdown of the capital expenditure in the year.
The Chair noted that with many large capital expenditure items being Part II it is difficult for backbench Councillors to understand where borrowing is being spent. In response the Assistant Director confirmed that more information can be provided in reports to Committee on the Capital Expenditure.
RESOLVED (unanimously) that:
To consider the report – no recommendations are being made to amend the current Treasury Management Strategy as a result of this particular review.
Reasons:
To ensure that members are fully aware of the activities undertaken in the last financial year, that Codes of Practice have been complied with and that the Council's strategy has been effective in 2018-19.
Under the Code adopted the Full Council are required to consider the report and any recommendations made.
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