Issue - meetings

To receive and consider the attached report and recommendations by the Cabinet held on 28 September 2017 (minute 44 refers).

The purpose of the report by the Director of Finance is to inform members and the wider community of the Council’s Treasury Management position at 31 July 2017 and to amend the Council's Treasury Management Strategy to reflect the Council's current circumstances.

In March 2009 the Chartered Institute of Public Finance and Accountancy (CIPFA) Treasury Management Panel issued a bulletin on Treasury Management in Local Authorities. The bulletin states that “in order to enshrine best practice it is suggested that authorities report formally on Treasury Management activities at least twice yearly”. The report in Appendix A covers the first four months of 2017/18.

RECOMMENDED to Council:

(1)  That the authorised limit for external debt be increased by £10,600,000 from £607,555,000 to £618,155,000

(2)  That the operational boundary for external debt be increased by £10,600,000 from £589,255,000 to £599,855,000

(3)  That non-specified investments of up to £20m are permitted in the Council's subsidiary companies including but not restricted to MMD (Shipping Services) Ltd

(4)  That the actual Treasury Management indicators for July 2017 in Appendix A be noted.

RECOMMENDED to Council:

(1)       That the authorised limit for external debt be increased by £10,600,000 from £607,555,000 to £618,155,000

(2)       That the operational boundary for external debt be increased by £10,600,000 from £589,255,000 to £599,855,000

(3)       That non-specified investments of up to £20m are permitted in the Council's subsidiary companies including but not restricted to MMD (Shipping Services) Ltd

(4)       That the actual Treasury Management indicators for July 2017 in Appendix A be noted.

(As this item is referred to Council for decision it is not subject to call-in)