Issue - meetings

To consider a report of the Deputy Leader of the Council and Cabinet Member for Resources, Commissioning & Governance.

The Deputy Leader of the Council and Cabinet Member for Resources, Commissioning and Governance (Councillor Tom McGee) submitted a report (copies of which had been circulated) providing an update on the functioning of the Council’s Treasury Management functions for 2019/20. The report confirmed that during the period in question the Council had complied with its legislative and regulatory requirements and that borrowing had only been undertaken for a capital purpose and the statutory borrowing limit had not been breached.

RESOLVED –The Council Meeting has:-

·         given approval to the actual 2019/20 prudential and treasury indicators in the report;

·         noted the annual treasury management report for 2019/20; and

·         noted that changes have been made to the Council’s Treasury Management Policy Statement and Practices during 2019/20 to accommodate the requirements of the revised CIPFA Codes published in December 2017.

To consider a report of the Cabinet Member for Resources, Commissioning & Governance.

The purpose of this report is to inform the Cabinet on the operation and effectiveness of the Council's Treasury Management function for 2019/20. 

Throughout 2019/20 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 2019/20 reporting cycle.

The Cabinet is asked to recommend that the Council Meeting:

·         Approve the actual 2019/20 prudential and treasury indicators in this report;

·         Note the annual treasury management report for 2019/20; and

·         Note that changes have been made to the Council’s Treasury Management Policy Statement and Practices during 2019/20 to accommodate the requirements of the revised CIPFA Codes published in December 2017.

Officer contact: Lorna Soufian on 0161 474 4026 or email: lorna.soufian@stockport.gov.uk

The Deputy Leader of the Council and Cabinet Member for Resources, Commissioning & Governance (Councillor Tom McGee) submitted a report (copies of which had been circulated) updating the Cabinet on the functioning of the Council’s Treasury Management functions for 2019/20. The report confirmed that during the period in question the Council had complied with its legislative and regulatory requirements and that borrowing had only been undertaken for a capital purpose and the statutory borrowing limit had not been breached.

RESOLVED – That in relation to the Treasury Management Annual Report 2019/20 the Council Meeting is recommended to:-

·         Approve the actual 2019/20 prudential and treasury indicators in this report;

·         Note the annual treasury management report for 2019/20; and

·         Note that changes have been made to the Council’s Treasury Management Policy Statement and Practices during 2019/20 to accommodate the requirements of the revised CIPFA Codes published in December 2017.

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

The sets out the annual treasury report reviewing treasury management activities and the actual prudential and treasury indicators for 2019/20.

The Scrutiny Committee is invited to comment on the report.

Officer Contact: Lorna Soufian on 0161 474 4026 or email: lorna.soufian@stockport.gov.uk

The Corporate Director, Corporate and Support Services submitted a report (copies of which had been circulated) setting out the annual treasury report reviewing treasury management activities and the actual prudential and treasury indicators for 2019/20.

The Cabinet Member for Resources, Commissioning and Governance (Councillor Tom McGee) attended the meeting to respond to questions from the Scrutiny Committee.

The following comments were made/issues raised:-

·         The report and the Council’s investment strategy was commended.

·         A Member enquired when the Schools Capital Strategy was expected to be submitted to the Committee.

RESOLVED – That the report be noted.