Issue - meetings

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

The Leader of the Council (Policy, Reform & Finance) (Councillor Sue Derbyshire) Submitted the Treasury Management Annual Report 2012/13 and Treasury Management Policy Statement and Practices (copies of which had been circulated).

RESOLVED - (1) That approval be given to the actual 2012/13 prudential and treasury indicators as detailed in the report.

(2) That the annual treasury management report for 2012/13 be noted.

(3) That it be noted that no changes had been made during 2012/13 to the Treasury Management Policy Statement and Practices approved by the Council Meeting on 27 September 2012.

To consider a report of the Executive Councillor (Corporate, Customer & Community Services)

The report details the operation and effectiveness of the Council's Treasury Management function for 2012/13. 

The Council’s 2012/13 Treasury Management Policy Statement and Practices were approved at the Council meeting on 27 September 2012.  No amendments have been made to the Policy Statement and Practices during the 2012/13 financial year.

The Council has complied with the requirement under the CIPFA Treasury Management Code to give prior scrutiny of treasury management reports by the Corporate, Resource Management and Governance Scrutiny Committee before they were reported to the full Council.  Member training on treasury management issues was provided on 3 December 2012 in order to support Members’ Scrutiny and Executive role.

During 2012/13, the Council complied with its legislative and regulatory requirements.  The key prudential and treasury indicators detailing the impact of capital expenditure activities during the year, with comparators are found in the main body of the report.  The Corporate Director, Corporate and Support Services confirms that borrowing was only undertaken for a capital purpose and the statutory borrowing limit (the authorised limit), was not breached.

The financial year 2012/13 continued the challenging environment of previous years; low investment returns and on-going heightened levels of counterparty risk remained.

The Executive is asked to recommend that the Council Meeting:

·         Approve the actual 2012/13 prudential and treasury indicators in this report;

·         Note the Annual Treasury Management Report for 2012/13;

·         Note that no changes have been made during 2012/13 to the Treasury Management Policy Statement and Practices approved at the Council meeting on 27 September 2012.

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

The Executive Councillor (Corporate, Customer & Community Services) submitted a report (copies of which had been circulated) informing the Executive Meeting of the operation and effectiveness of the Council's Treasury Management function for 2012/13. 

RESOLVED – That the Council Meeting be recommended to:-

·         approve the actual 2012/13 prudential and treasury indicators in this report;

·         note the Annual Treasury Management Report for 2012/13;

·         note that no changes had been made during 2012/13 to the Treasury Management Policy Statement and Practices approved at the Council meeting on 27 September 2012.