Agenda item

Cabinet:

1.         Noted the final 2015/16 Treasury Position set out in this report and

2.         Noted the prudential and treasury indicators in this report

3.         Resolved to refer the report to Council

Councillor Clarence Barrett, Cabinet member for Financial Management, introduced the report

Members were informed that the Chartered Institute of Public Finance and Accountancy’s Treasury Management Code (CIPFA’s TM Code) required that Authorities report on the performance of the treasury management function to full Council at least twice yearly (mid-year and at year end).

The Authority had borrowed and invested substantial sums of money and was therefore exposed to financial risks including the loss of invested funds and the revenue effect of changing interest rates.  The report covered treasury activity and the associated monitoring and control of risk.

Reasons for the decision:

The Chartered Institute of Public Finance and Accountancy’s Treasury Management Code (CIPFA’s TM Code) required that Authorities report on the performance of the treasury management function to full Council mid-year and at year end.

Other options considered:

The other option would be to not report the performance of the treasury function however as this would be in breach of CIPFA’s TM Code, this was not considered.

Cabinet:

1.         Noted the final 2015/16 Treasury Position set out in this report

2.         Noted the prudential and treasury indicators in this report

3.         Resolved to refer the report to Council