Issue - meetings

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

The Leader of the Council (Policy, Finance & Devolution) (Councillor Alex Ganotis) submitted the annual treasury report (copies of which had been circulated) reviewing treasury management activities and the actual prudential and treasury indicators for 2015/16.

RESOLVED - (1) That approval be given to the actual 2015/16 prudential and treasury indicators as detailed in the report.

(2) That the Annual Treasury Management report for 2015/16 be noted.

(3) That it be noted that no fundamental changes have been made during 2015/16 to the Treasury Management Policy Statement and Practices approved at the Council Meeting on 17 September 2015.

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

The purpose of this report is to inform the Executive on the operation and effectiveness of the Council's Treasury Management function for 2015/16. 

Throughout 2015/16 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 Borough Treasurer, 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 2015/16 reporting cycle.

The Executive is asked to recommend that the Council Meeting:

·         Approves the actual 2015/16 prudential and treasury indicators in this report;

·         Notes the Annual Treasury Management Report for 2015/16;

·         Notes that no fundamental changes have been made during 2015/16 to the Treasury Management Policy Statement and Practices approved at the Council meeting on 17 September 2015.

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

The Leader of the Council (Policy, Finance and Devolution) 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 2015/16.

During 2015/16, 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, were detailed in the report.

The financial year 2015/16 had continued the challenging environment of previous years; low investment returns and on-going heightened levels of counterparty risk remained.

The Leader of the Council commended the work of officers for their continued good stewardship of the Council’s resources.

RESOLVED – That in relation to the Treasury Management Annual Report 2015/16 the Council Meeting be recommended to:-

·           approve the actual 2015/16 prudential and treasury indicators in this report;

·           note the annual treasury management report for 2015/16; and

·           note that no fundamental changes have been made during 2015/16 to the Treasury Management Policy Statement and Practices approved at the Council meeting on 17 September 2015.

To consider a report of the Borough Treasurer

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 2015/16. 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 or by email on john.parkinson@stockport.gov.uk

The Borough Treasurer 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 2015/16. 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 Leader of the Council (Councillor Alex Ganotis) attended the meeting to answer members’ questions.

RESOLVED – That the Council Meeting be recommended to approve the Treasury Management Annual Report for the financial year 2015/16.