Agenda item

The Committee considered a report of the Interim Corporate Director Resources which provided details of the Annual Treasury Management Review and final outturn on treasury management activities for 2015/16 (for copy see file of minutes).

Councillor Davinson in referring to paragraph 15 of the report and rate returns on total investments, asked why this rate was higher than that seen on pension return rates. The Finance Manager advised that the rate was slightly higher due to the fact that the investments were over a longer term and attracted a higher rate of interest. It was noted that this rate was provided on cash only.

Councillor Bell commented that he was aware that banks could now impose charges up to 0.25% on savings. In response the Interim Corporate Director advised that this applied to personal banking only and the council was already charged for transactions. Councillor Carr asked whether rates were fixed within the banking contracts. It was noted that this was the case.

Resolved:

That the content of the report be noted.