Issue - meetings

Cabinet member: Cllr Sati Buttar

To receive the Treasury Management outturn report for 2019/20.

Cabinet considered a report on the performance of the treasury management function.

Resolved to note the Treasury Outturn position for 2019-20 and the financial environment in global markets, as detailed in the report.

To note the treasury management outturn report for 2019/20 and the financial environment in global markets which will be considered by Cabinet on 15 July.

The Deputy Chief Accountant outlined the Treasury Management Strategy outturn report on treasury performance for 2019/20, covering the Council’s activities in the borrowing and investment market and the associated monitoring and control of risk.

A Member queried the way in which the report was presented and the methodology of calculations on total returns on investments. The Chief Finance Officer advised that the Deputy Chief Accountant had raised this issue with the Council’s treasury advisors following similar remarks made at a previous meeting. Arlingclose had confirmed that the Council had undertaken its calculations on this issue correctly. The Chief Finance Officer also offered to take on board the members’ points to consider them further and report back in writing to the Committee.

The Chief Finance Officer also responded to a question about alternative sources of funding and offered to provide the Committee with the Council’s response on the Public Works Loan Board consultation in due course.

Resolved to:

1)    note the report; and

2)    receive a written response to queries raised by members of the Committee on this report.