Issue - meetings

To consider the report of the Chief Finance Officer.

The Chief Finance Officer presented the report on the current Treasury Management performance for the 2018/19 financial year, and the position of investments and borrowings at 31 March 2019. There was a statutory requirement to publish regular reports on Treasury Management to Council, which included an annual Treasury Management Strategy, half yearly reports and a year-end report as a minimum requirement.

The Chief Finance Officer referred Members to the General Fund net interest position, highlighting that that £80,515 actual interest had been paid.  He explained the savings made, stating that it had been a positive financial year, and that the Council could use the borrowing and repayment dates, to monitor repayments.

In response to questions from Members, the Chief Finance Officer explained that the Council only invested in fixed term amounts from banks. However who these banks dealt with, was a matter for themselves and as such could include third parties who dealt in fossil fuels. Other companies Exeter City Council were involved with, were Exeter City Living, Exeter Science Park, Strata and the Exeter Business Centre. The Council itself did not directly invest in Companies involved in fossil fuels.

Corporate Services Scrutiny Committee noted the Treasury Management report for the 2018/19 financial year and recommended the Executive and Council note the content of the report.

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