Agenda item

That the summary of treasury management activity in 2015-16 and the first part of 2016-17 be noted.

The Cabinet considered an annual report on treasury management activities for 2015-16 and the first part of 2016-17.  Approximately £70m was invested at any one time and the current strategy had been successful in generating £2m last year which was important in supporting services and balancing the revenue budget.  A risk averse approach was being taken and the Council was one of the top performing authorities on treasury management amongst comparators.

The Cabinet discussed the changing risk environment following recent financial turbulence, particularly the impact of Brexit.  Speaking under Rule 30, Councillors Anderson and Swindlehurst raised several issues including how the strategy would be evolved to continue the high level of performance in view of the changing economic position.  It was responded that investments were constantly reviewed in line with the principles of the Treasury Management Strategy.  Decisions were taken following careful consideration and advice from Arlingclose.

At the conclusion of the discussion, the Cabinet agreed to note the annual update of treasury management activity.

Resolved –  That the summary of treasury management activity in 2015-16 and the first part of 2016-17 be noted.