Issue - meetings

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

The report provides the Scrutiny Committee with a mid-year review of the Council’s Treasury Management Strategy Statement and Annual Investment Strategy for 2015/16 approved by Council Meeting on 26 February 2015 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 2015/16 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 2015/16.

The Executive at its meeting on 17 November 2015 referred the report to the Council Meeting for consideration.

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

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

The Corporate Director, 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 2015/16, and providing an economic update for the first six months of the year and the impact of this on interest rate predictions and the outlook provided in the initial Strategy.

It was reported that the Council Meeting on 3 December had noted the report and the treasury activity in the first half of the financial year.

The Executive Councillor (Support and Governance) (Councillor Iain Roberts) attended the meeting to respond to Members’ questions.

RESOLVED – That the report be noted.

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

The Deputy Leader of the Council and Executive Councillor for Support & Governance (Councillor Iain Roberts) submitted the Treasury Management Strategy and Annual Investment Strategy, Mid-Year Review Report 2015/16 (copies of which had been circulated).

RESOLVED – (1) That the Treasury Management Strategy and Annual Investment Strategy, Mid-Year Review Report 2015/16 report be received in line with best practice guidelines.

(2) That the treasury activity for the first half of the financial year be noted.

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

The report provides the Executive with a mid-year review of the Council’s Treasury Management Strategy Statement and Annual Investment Strategy for 2015/16 approved by Council on 26 February 2015 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 2015/16 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 2015/16.

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

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) providing the Executive with a mid-year review of the Council’s Treasury Management Strategy Statement and Annual Investment Strategy for 2015/16, as agreed by the Council Meeting, and providing an economic update for the first six months of the year and the impact of this on interest rate predictions and the outlook provided in the initial Strategy.

RESOLVED – That the Council Meeting be recommended to receive the mid-year review of the Council’s Treasury Management Strategy Statement and Annual Investment Strategy for 2015/16 in line with best practice guidelines, and note the report and the treasury activity in the first half of the financial year.