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Issue - meetings
Treasury Management - Mid-Year Report 2020/21
Meeting: 04/01/2021 - Cabinet (Item 298)
298 Treasury Management - Mid-Year Report 2020/21 PDF 785 KB
Decision:
Cabinet agree the Mid-Year report.
Minutes:
The Assistant Director, Financial Services and Revenues, introduced a report to advise the Cabinet of the Treasury Management activities and performance during the current year.
The mid-year report provides the opportunity to review the Treasury Management Strategy and make appropriate recommendations to Council to take account of any issues or concerns that have arisen since approving it in February 2020.
Acknowledging the difficult year that has just passed the Assistant Director informed the meeting that the Treasury Management strategy has proven to be invaluable in meeting the challenges of Covid-19. The strategy and supporting policies for the next financial year will be presented to the February meeting of Cabinet and the January meeting of the Audit Committee. No amendments to the strategy were recommended.
The Chair thanked the Assistant Director and the Finance Team for their work on the strategy.
Councillor Chowney proposed approval of the recommendation, seconded by Councillor Fitzgerald.
RESOLVED (unanimously):
Cabinet agree the Mid-Year report.
Reason:
The Code of Practice on Treasury Management requires, as a minimum, a mid-year review of the Treasury Management Strategy and performance. This is intended to highlight any areas of concern that have arisen since the original strategy was approved (February 2020). It is a requirement of the Code of Practice that the Mid year review is considered by Cabinet, Audit Committee and full Council.
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