Decision details

Councillor Cliff Lunn, Lead Executive Member for Finance and Resources presented the report that asked the Executive to approve the Treasury Management Annual Review 2017/18, and to endorse the actions of officers in relation to treasury activities.

The Lead Executive Member for Finance and Resources explained that the Council’s investment over the year was at an average rate of around 0.5% and the amount earned had been higher than expected.

In response to a query concerning reducing the amount of borrowing, the Chief Finance Officer explained that this was always under review however had to be balanced with the penalties for reducing borrowing earlier than expected.

RESOLVED:

To endorse the actions of officers on the Council’s treasury activities for 2017/18 and approve the report.

REASON FOR DECISION:

To comply with the Treasury Management Code of Practice, the Executive is required to receive and review regular treasury management monitoring reports.