Issue - meetings

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

The Council is required through regulations issued under the Local Government Act 2003 to produce an annual treasury report reviewing treasury management activities and the actual prudential and treasury indicators for 2014/15. This report meets the requirements of both the CIPFA Code of Practice on Treasury Management (the Code) and the CIPFA Prudential Code for Capital Finance in Local Authorities (the Prudential Code).

The Scrutiny Committee are invited to comment on the report.

Officer contact John Parkinson on Tel: 0161 218 1757.

The Corporate Director for Corporate and Support Services submitted the Treasury Management Annual Report for the financial year 2014/15 (copies of which had been circulated)

The Council was required through regulations issued under the Local Government Act 2003 to produce an annual treasury report reviewing treasury management activities and the actual prudential and treasury indicators for 2014/15. This report met the requirements of both the CIPFA Code of Practice on Treasury Management (the Code) and the CIPFA Prudential Code for Capital Finance in Local Authorities (the Prudential Code).

The Deputy Executive Leader and Portfolio holder for Support and Governance (Councillor Iain Roberts) attended the meeting to answer members’ questions.

It was noted that in relation to LOBO loans, these were taken out some years ago at competitive rates when compared to PWLB loans at that time. Should the lenders exercise their rights to increase the rates the Council would consider exercising its right to repay those loans without penalty.

RESOLVED – That the Council Meeting be recommended to approve the Treasury Management Annual Report for the financial year 2014/15.