Issue - meetings

Report No:   CAB/SE/16/039

Portfolio Holder: Ian HoulderLead Officer: Rachael Mann

RECOMMENDED TO COUNCIL (27 September 2016):

That the Annual Treasury Management Report for 2015-2016, attached as Appendix 1 to Report No: TMS/SE/16/003, be approved.

The Cabinet considered Report No: CAB/SE/16/039, which sought approval for the Annual Treasury Management Report for 2015/2016.

Councillor Ian Houlder, Portfolio Holder for Resources and Performance, drew relevant issues to the attention of the Cabinet, including that the Annual Treasury Management Report for 2015/2016, which was attached at Appendix 1 to Report No: TMS/SE/16/003, summarised the interest earned during 2015/2016 on the various treasury investments held by the Council; investment activity during the year and the investments held as at 31 March 2016.

Overall investment activity for 2015/2016 was outlined in Report No: CAB/SE/16/039, including that the average rate of return on investments was 0.769% against a budgeted rate of return of 1.5%. This was an over achievement of interest of £146,000, but an under achievement of 0.731% on average rate of return.  This was primarily due to higher cash balances being held during the year than originally budgeted for.  Investment activity from 1 April to 30 June 2016 was also noted.

Recognition was given to those involved in the production of the Annual Treasury Management Report 2015/2016.

RECOMMENDED TO COUNCIL:

That the Annual Treasury Management Report for 2015-2016, attached as Appendix 1 to Report No: TMS/SE/16/003, be approved.