Issue - meetings

It was proposed by Councillor L Fairbrass, seconded by Councillor Wells, and Members agreed the recommendations as shown in paragraph 11.1 of the report, namely:

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

It is a requirement by the CIPFA Code of Practice on Treasury Management that Council considers treasury reports at regular intervals in any given financial year.

During the first half of 2015-16 the Council complied with its annual investment strategy, apart from the money limit with the Lloyds Banking Group for the 11 day period from 15 May 2015 to 26 May 2015, as described in section four of the report.

During the first half of 2015/16 borrowing was only undertaken for a capital purpose and the statutory borrowing limit was not breached. The period continued to be a challenging investment environment, with low investment returns.

The Governance & Audit Committee considered this report on 9 December 2015. Cabinet was asked to recommend the report to Full Council on 25 February 2016 for final approval.

Councillor Townend proposed, Councillor Crow-Brown seconded and Members agreed the following:

1.  To approve this report and the prudential and treasury indicators that are shown;

2.  To recommend this report to Full Council.