Issue - meetings

Report No: CAB/FH/15/045

Portfolio Holder: Stephen Edwards            Lead Officer: Rachael Mann

Chairman of the Committee: Colin Noble

RECOMMENDED TO COUNCIL (14 October 2015):

That the Annual Treasury Management Report 2014-2015, attached as Attachment 1 to Report No PAS/FH/15/021, be approved.

(Report No CAB/FH/15/045)

The Cabinet considered this report which sought approval for the Annual Treasury Management Report for 2014-2015.

The Portfolio Holder for Resources and Performance, drew relevant issues to the attention of the Cabinet, including the Annual Treasury Management Report for 2014-2015, (attached at Attachment 1 to Report No PAS/FH/15/021) which summarised the interest earned during 2014-2015 on the various treasury investments held by the Council; investment activity during the year and the investments held as at 31 March 2015.

The budgeted income from investments in 2014-2015  was £372,418, interest actually earned during the year totalled £472,511, an overachievement of £100,093.  The overachievement was mainly due to increased cash flow/money available for investment as a result of the timing of large value transactions (such as NNDR receipts and payments and capital programme).

Although the interest earned during the year was over budget, the continuing low base rate and subsequent low rates of return available in the marketplace had had an impact of the level of income from investments during 2014-2015, compared to various years.

With the vote being unanimous, it was

RECOMMENDED TO COUNCIL: (14 October 2015)

That the Annual Treasury Management Report 2014-2015, attached as Attachment 1 to Report No PAS/FH/15/021, be approved.