Issue - meetings

Treasury Management half year report 2010/11

Meeting: 07/12/2010 - Executive (Item 121)

121 Treasury Management 2010/11 pdf icon PDF 72 KB

To consider the report of the Head of Treasury Services.

 

Scrutiny Committee – Resources considered the report at its meeting on 24 November 2010 and comments will be reported.

 

(Report circulated)

 

Decision:

The report of the Head of Treasury Services was submitted on the current performance for the 2010-11 financial year and the position regarding investments and borrowings at 30 September 2010.

 

The Head of Treasury Services reported on the implications for the Council of the national economic position.  He reported that the low interest rates were favourable for the Council in terms of short-term borrowing but the position would be closely monitored.   The weak performance of investments had resulted in a significant reduction in investment income.  The Council had reduced its borrowing from £21.8 million at the start of the financial year to £10 million at present. 

 

Scrutiny Committee – Resources considered the report at the meeting on 24 November 2010 and the support of members was noted.

 

Executive noted the Treasury Management report for the first six months of 2010/11.

 

 

 

Minutes:

The report of the Head of Treasury Services was submitted on the current performance for the 2010-11 financial year and the position regarding investments and borrowings at 30 September 2010.

 

The Head of Treasury Services reported on the implications for the Council of the national economic position.  He reported that the low interest rates were favourable for the Council in terms of short-term borrowing but the position would be closely monitored.   The weak performance of investments had resulted in a significant reduction in investment income.  The Council had reduced its borrowing from £21.8 million at the start of the financial year to £10 million at present. 

 

Scrutiny Committee – Resources considered the report at the meeting on 24 November 2010 and the support of members was noted.

 

RESOLVED that the Treasury Management report for the first six months of 2010/11 be noted.

 

(Report circulated)

 


Meeting: 24/11/2010 - Scrutiny Committee - Resources (Item 69)

69 Treasury Management 2010/11 pdf icon PDF 72 KB

To consider the report of the Head of Treasury Services – report circulated

 

Minutes:

The Head of Treasury Services presented a report on the current performance for the 2010/11 financial year and the position regarding investments and borrowings as at 30 September 2010.

 

Members were updated on the net interest position which was a reduction of £100,000 compared to the budget, due to interest rates staying at a lower rate than estimated. The Council had reduced its temporary borrowing over the first six months of the year. Borrowing now stood at £10 million, down from £21.8 million at the start of the year. Interest rates remained very low and the Council was keeping borrowing and investment to a minimum, continuing to have no long term debt.

 

The Scrutiny Committee - Resources noted the Treasury management report for the first six months of 2010/11 and recommended approval by Executive.

 

(Report circulated)