Issue - meetings

It was proposed by Councillor Townend, seconded by Councillor Stummer-Schmertzing and Members agreed that the recommendation set out in the report be agreed, namely:

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

Member received a report on treasury management activity and prudential/ treasury indicators for the first half of 2017-18.There were no key changes to the Treasury and Capital Strategies during the first half of 2017-18. The report further observed that the overall balance of risks to economic recovery in the UK is currently to the downside but huge variables over the coming few years included issues related to what final form Brexit would take when finally agreed with the EU and when that decision would made.

The Treasury Management Strategy Statement (TMSS) for 2017-18, which included the Annual Investment Strategy, was approved by the Council on 9 February 2017. There were no policy changes to the TMSS; the details in the Cabinet report provided a current position in the light of the updated economic position and budgetary changes that had already been approved.

Councillor Gregory spoke under Council Procedure Rule 20.1.

Councillor Townend proposed, Councillor Stummer-Schmertzing seconded and Cabinet agreed the following:

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

2.  To recommend the report to Council.

Mr Willis introduced the report which summarised the treasury management activity and prudential/treasury indicators for the first half of the 2017/18.

Councillor Edwards proposed, Councillor Partington 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.’