Issue - meetings

It was proposed by Councillor Townend, seconded by Councillor L Fairbrass and Members agreed the recommendation set out in the report, namely:

“That Council approves the report and the prudential and treasury indicators that are shown.”

Members were advised that during the first half of 2016-17 the Council complied with the requirements of its annual investment strategy. Borrowing was only undertaken for a capital purpose and the statutory borrowing limit (the authorised limit) was not breached. The period under review continued to be a challenging investment environment, with low investment returns.

Councillor I. Gregory spoke under Council Procedure 20.1.

Councillor Townend proposed, Councillor L. Fairbrass seconded and Cabinet:

1.  Approved the report and the prudential and treasury indicators that are shown (in the Cabinet report);

2.  Recommended this report to Council.

Tim Willis introduced the report which summarised the treasury management activity and prudential/treasury indicators for the first half of the 2016/17.

During consideration of the item it was noted that:

·  The treasury management indicators remained on target.

·  In recognition of the complexity of the topic it was commented that;

o  While the report was required to be written according to certain reporting criteria, officers intended to simplify the report next year to make it easier to understand.

o  The provision of training for Members by finance officers or Capita could be considered.

·  A breakdown of the investments noted at paragraph 5.2 of the report could be included in future for Members’ information.

Councillor Gregory proposed, Councillor Edwards seconded and Members agreed the recommendation as shown in the report, namely:

‘That the Governance and Audit Committee:

•  Approves this report and the prudential and treasury indicators that are shown.

•  Recommends this report to Cabinet.’