Issue - meetings

RESOLVED:   That the report and the treasury activity be noted.

Reason for Decision

The Council has formally adopted the Chartered Institute of Public Finance and Accountancy’s (CIPFA) Code of Practice on Treasury Management (updated 2017) and remains fully compliant with its requirements.   

One of the primary requirements of the Code is that a mid-year review will be made.

The S151 Officer presented a report which explained that the Council had formally adopted the Chartered Institute of Public Finance and Accountancy’s (CIPFA) Code of Practice on Treasury Management (updated 2017) and remained fully compliant with its requirements.   

One of the primary requirements of the Code was receipt by Cabinet of a Mid-Year Review Report.

The Mid-Year Review Report has been prepared in compliance with CIPFA’s Code of Practice, and covers the following:

•           A review of the Treasury Management Strategy;

•           The Council’s capital expenditure (prudential indicators);

No changes were requested to the policy, and the prudential borrowing was within agreed limits.

In examining the report the Cabinet discussed the PWLB rate increase and asked if there had been any notice of the rate increase.  It was confirmed that there had not been any notice of the increase or reason given but Government had been asked to re-look at the rate particularly for housing schemes which would potentially be adversely affected by the increase, and therefore affect the housing delivery test set by the Government.  It was noted that a review of the capital schemes which may have been funded by this route would be carried out.  It would also be reviewed as to whether this would be added to the risk register.

RESOLVED:   That the report and the treasury activity be noted.

Reason for Decision

The Council has formally adopted the Chartered Institute of Public Finance and Accountancy’s (CIPFA) Code of Practice on Treasury Management (updated 2017) and remains fully compliant with its requirements.   

One of the primary requirements of the Code is that a mid-year review will be undertaken.