Issue - meetings
Treasury Management 2014/15
Meeting: 15/07/2014 - Executive (Item 75)
75 Treasury Management 2013/14 
PDF 87 KB
To consider the report of the Assistant Director Finance.
Scrutiny Committee – Resources considered the report at its meeting on 2 July 2014 and its comments will be reported.
Additional documents:
Decision:
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Agreed
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That it is recommended to Council to approve the Treasury Management report for the 2013/14 financial year. |
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Reason for Decision:
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As set out in the report. |
Minutes:
The report of the Assistant Director Finance was submitted reporting on the overall performance for the 2013/14 financial year and the position regarding investments and borrowings at 31 March 2014.
The Assistant Director Finance confirmed that the Council had successfully completed the sale, at auction, of its outstanding monies held in Landsbanki. Glitnir had also repaid in full the funds invested during 2011/12, although the proportion repaid in Icelandic Krona remained invested in Iceland due to restrictive currency movements, but he anticipated that the restrictions would be lifted in the future and the funds returned.
In response to a Member’s question, the Assistant Director Finance advised that the position with regards to interest rates and any possible rises were continually monitored.
Scrutiny Committee – Resources considered the report at its meeting on 2 July 2014 and the comments of the Members were noted.
RECOMMENDED that Council approve the Treasury Management report for the 2013/14 financial year.
Meeting: 02/07/2014 - Scrutiny Committee - Resources (Item 24)
24 Treasury Management 2013/14 PDF 81 KB
To consider the report of the Assistant Director Finance.
Additional documents:
Minutes:
The Assistant Director Finance presented a report on the overall performance for the 2013/14 financial year and the position regarding investments and borrowings at 31 March 2014. He responded to a number of Members’ comments and confirmed that the Council had successfully completed the sale, at auction, of its outstanding monies held in Landsbanki. Glitnir had also repaid in full the funds invested during 2011/12, although the proportion repaid in Icelandic Krona remained invested in Iceland due to restrictive currency movements, but he anticipated that the restrictions would be lifted in the future and the funds returned. He also explained the investment strategy was made on the basis of the usual financial risks assessments in accordance with the strict investment portfolio approved by Council.
Scrutiny Committee - Resources noted the Treasury Management report for the 2013/14 report and recommended approval by Council.