Issue - meetings

To consider a report of the Executive Councillor (Support & Governance).

The Deputy Leader of the Council (Support & Governance) (Councillor Iain Roberts) submitted a report (copies of which had been circulated) detailing the operation and effectiveness of the Council's Treasury Management function for 2014/15.

RESOLVED – (1) That approval be given to the actual 2014/15 prudential and treasury indicators as detailed in the report.

(2) That the annual treasury management report for 2014/15 be noted.

(3) That it be noted that no fundamental changes have been made during 2014/15 to the Treasury Management Policy Statement and Practices approved at the Council meeting on 11 September 2014.

To consider a report of the Executive Councillor (Support & Governance).

The purpose of this report is to inform the Executive on the operation and effectiveness of the Council's Treasury Management function for 2014/15. 

Throughout 2014/15 the Council complied with its legislative and regulatory requirements.  The key actual 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.

This annual review report is a backward-looking review of the treasury management operation for the previous financial year and is the last report in the 2014/15 reporting cycle.

In treasury management terms the 2014/15 financial year largely continued the challenging environment of previous years, with lasting low investment returns and counterparty risk, although somewhat improved, remained.

The Executive is asked to recommend that the Council Meeting:

·         Approves the actual 2014/15 prudential and treasury indicators in this report;

·         Notes the Annual Treasury Management Report for 2014/15;

·         Notes that no fundamental changes have been made during 2014/15 to the Treasury Management Policy Statement and Practices approved at the Council meeting on 11 September 2014.

Officer contact: John Parkinson, 0161 218 1757, john.parkinson@stockport.gov.uk

The Executive Councillor (Support & Governance) submitted a report (copies of which had been circulated) informing the Executive of the operation and effectiveness of the Council’s Treasury Management function for 2014/15.

Throughout 2014/15 the Council had complied with its legislative and regulatory requirements. The key actual prudential and treasury indicators detailing the impact of capital expenditure activities during the year, with comparators, were set out in the report. In treasury management terms the 2014/15 financial year had largely continued the challenging environment of previous years, with lasting low investment returns and counterparty risk, although somewhat improved, remained.

RESOLVED – (1) That the Council Meeting be recommended to:-

·         approve the actual 2014/15 prudential and treasury indicators in the report;

·         note the Annual Treasury Management Report for 2014/15; and

·         note that no fundamental changes have been made during 2014/15 to the Treasury Management Policy Statement and Practices approved at the Council Meeting on 11 September 2014.

(2) That Officers be thanked for their work in this area.