Issue - meetings
Treasury Management - Half Yearly Report 2016/18
Meeting: 06/12/2016 - Executive (Item 137)
137 Treasury Management - Half Year Update 2016/17 
PDF 322 KB
To consider the report of the Assistant Director Finance.
Corporate Services Scrutiny Committee considered the report at its meeting on 24 November 2016 and its comments will be reported.
Additional documents:
Decision:
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Agreed
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That it is recommended that Council approves the Treasury Management report in respect of the first six months of the 2016-17 financial year.
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Reason for Decision:
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It is a statutory requirement for the Council to publish regular reports on Treasury Management to Council. This includes an annual Treasury Management Strategy and half yearly report and a year-end report as a minimum. |
Minutes:
The report of the Assistant Director Finance was submitted advising Members on the current Treasury Management performance for the 2016/17 financial year, and the position regarding investments and borrowings at 30 September 2016. The report was a statutory requirement and was for information only with no key decisions required.
The Assistant Director Finance advised Members of the Net Interest Position with regards to investments and borrowing. An investment of £3 million had been made in CCLA’s Local Authorities Mutual Investment Trust(LAMIT) Property Fund, the yield on this investment currently being 4.9%, a further £2 million had been invested in this fund in November. This was a long term investment commitment for the Council.
In response to Members’ questions, the Assistant Director Finance clarified :
- the positon with regards to the funds received from the Council’s investments in the Icelandic Banks and.
· that Local Authorities were in a unique position in that if there was a loss on the capital value of any investments in property funds they would only need to be recognised when the investment was sold.
Corporate Services Scrutiny Committee considered the report at its meeting on 24 November 2016 and its comments were reported.
RECOMMENDED that Council approves the Treasury Management report in respect of the first six months of the 2016-17 financial year.
Meeting: 24/11/2016 - Corporate Services Scrutiny Committee (Item 25)
25 Treasury Management -2016-17 Half Year Update PDF 322 KB
To consider the report of the Assistant Director Finance.
Additional documents:
Minutes:
The Principal Accountant (PM) presented the report on the current Treasury Management performance for the 2016/17 financial year, and the position regarding investments and borrowings at 30 September 2016. The report was a statutory requirement and was for information only with no key decisions required.
The Principal Accountant advised Members of the Net Interest Position with regards to investments and borrowing. An investment of £3 million had been made in CCLA’s Local Authorities Mutual Investment Trust(LAMIT) Property Fund the yield on this investment was 4.9%, this was a long term investment commitment.
Corporate Services Scrutiny Committee noted the Treasury Management report for 2016/17 financial year and recommended approval by Executive and Council.