Issue - meetings

To consider a report of the Leader of the Council (Policy, Reform & Finance).

The Leader of the Council (Policy, Reform and Finance) (Councillor Sue Derbyshire) submitted a report (copies of which had been circulated) detailing the mid-year performance of the Treasury Management function for the first quarter of 2012/13

RESOLVED – That the Mid-Year Treasury Management Strategy and Performance Review 2012/13 report be received in line with best practice guidelines and that the treasury activity for the first half of the financial year be noted.

To consider a report of the Corporate Director, Corporate and Support Services.

This report provides the Scrutiny Committee with a mid-year review of the Council’s Treasury Management Strategy Statement and Annual Investment Strategy for 2012/13 approved by Council on 23 February 2012 and has been prepared in accordance with the CIPFA Code of Practice for Treasury Management in the Public Services.

The report provides an economic update for the first six months of 2012/13 and details how this impacts upon the interest rate predictions and outlook provided in the initial strategy.  An overview is provided of more recent forecasts and developments in the financial markets and how these are affecting the Councils investment portfolio and borrowing strategies for the current financial year.   A review is provided of the Council’s capital expenditure prudential indicators and compliance with Treasury and Prudential Limits for 2012/13.

There are no key changes required to the treasury management and capital strategies for 2012/13, which continue to be relevant and effective.

The Executive at its meeting on 12 November 2012 approved the recommendations in the report.

The Scrutiny Committee is requested to recommend that the Council Meeting receive the report in line with best practice guidelines and note the treasury activity for the first half of the financial year.

Officer contact: Lorna Salvage, telephone number 0161 474 4026, email lorna.salvage@stockport.gov.uk

The Corporate Director for Corporate and Support Services submitted a report (copies of which had been circulated) providing the Scrutiny Committee with a mid-year review of the Council’s Treasury Management Strategy Statement and Annual Investment Strategy for 2012/13 approved by Council on 23 February 2012 and has been prepared in accordance with the CIPFA Code of Practice for Treasury Management in the Public Services.

The report provided an economic update for the first six months of 2012/13 and details how this impacts upon the interest rate predictions and outlook provided in the initial strategy.  An overview was provided of more recent forecasts and developments in the financial markets and how these were affecting the Councils investment portfolio and borrowing strategies for the current financial year.   A review was provided of the Council’s capital expenditure prudential indicators and compliance with Treasury and Prudential Limits for 2012/13.

There were no key changes required to the treasury management and capital strategies for 2012/13, which continued to be relevant and effective.

It was reported that the Executive at its meeting on 12 November 2012 had approved the recommendations in the report.

The Executive Leader and Portfolio holder for Policy, Reform & Finance (Councillor Sue Derbyshire) attended the meeting to answer member’s questions.

RESOLVED – That mid-year performance of the Treasury Management function in 2012/13 be noted and the Council Meeting be recommended to receive the report in line with best practice guidelines.

To consider a report of the Leader of the Council (Policy, Reform & Finance)

This report provides the Executive with a mid-year review of the Council’s Treasury Management Strategy Statement and Annual Investment Strategy for 2012/13 approved by Council on 23 February 2012 and has been prepared in accordance with the CIPFA Code of Practice for Treasury Management in the Public Services.

The report provides an economic update for the first six months of 2012/13 and details how this impacts upon the interest rate predictions and outlook provided in the initial strategy.  An overview is provided of more recent forecasts and developments in the financial markets and how these are affecting the Councils investment portfolio and borrowing strategies for the current financial year.   A review is provided of the Council’s capital expenditure prudential indicators and compliance with Treasury and Prudential Limits for 2012/13.

There are no key changes required to the treasury management and capital strategies for 2012/13, which continue to be relevant and effective.

The Executive is asked to recommend that the Council Meeting receive this report in line with best practice guidelines and note the treasury activity for the first half of the financial year.

Officer contact: Lorna Salvage, 0161 474 4026, lorna.salvage@stockport.gov.uk

The Leader of the Council (Policy, Reform & Finance) submitted a report (copies of which had been circulated) inviting the Executive Meeting to consider the mid-year performance of the Treasury Management function for the first quarter of 2012/13

RESOLVED – That mid-year performance of the Treasury Management function in 2012/13 be noted and the Council Meeting be recommended to receive the report in line with best practice guidelines.