Issue - meetings

REPORT OF THE SERVICE DIRECTOR – RESOURCES

To inform Cabinet of the Treasury Management activities in the first quarter of 2018/19 to the end of June.

RESOLVED:  That the position of the Treasury Management activity as at the end of June 2018 be noted.

REASON FOR DECISION: To ensure the Council’s continued compliance with CIPFA’s code of practice on Treasury Management and the Local Government Act 2003 and that the Councilmanages its exposure to interest and capital risk.

The Executive Member for Finance and IT presented the report of the Service Director – Resources in respect of the Treasury Management First Quarter 2018/19.

The Executive Member for Finance and IT advised that Council had previously approved the Treasury Management Strategy and the Council continued to invest in deposits with Banks, Building Societies and other Local Authorities.

Investments had generated a little more income than had been assumed due to spending being less than expected.

RESOLVED:  That the position of the Treasury Management activity as at the end of June 2018 be noted.

REASON FOR DECISION: To ensure the Council’s continued compliance with CIPFA’s code of practice on Treasury Management and the Local Government Act 2003 and that the Councilmanages its exposure to interest and capital risk.