Issue - meetings

To note the half-yearly report on the Council’s Treasury Management for 2016-17.

The Committee received the Treasury Management half-yearly report on treasury performance for the first six months of the financial year to the end of September 2016. The Council had invested and borrowed substantial sums of money and was therefore exposed to financial risks including the loss of invested funds and the revenue effect of changing interest rates. The report covered the council’s treasury activity and the associated monitoring and control of risks.

The Chief Finance Officer highlighted the performance of the Council’s fund investments which totalled £43.29m as at 30/9/16 including short term cash flow funds and had generated an average return of 2.11% in the first six months of 2016/17. The use of pooled investment funds, which as at 30/9/16 had generated a 4.31% return, compared to the target of 4%, within the portfolio was fundamental to the continued positive performance and should help maintain overall investment returns into the future.

Resolvedto note the treasury position achieved during the first six months of 2016/17 and the financial environment in global markets.

Councillor Williams

To receive the half-yearly report on the Council’s Treasury Management for 2016-17.

The Cabinetconsidered an interim statement of treasury activities for the first six months of the financial year, to the end of September 2016. The report covered treasury activity and the associated monitoring and control of risks.

Resolved to note the treasury position achieved during the first six months of 2016/17 and the financial environment in global markets.