Agenda item

Treasury Management Outturn 2017/2018

Minutes:

The Committee considered a report of the Corporate Director Resources which provided details of the Annual Treasury Management Review and final outturn on treasury management activities for 2017/18 (for copy see file of minutes).

 

The Corporate Director of Resources reported that the total net debt was at £119m with total borrowing at £290m.  To take advantage of the low interest rates £35m had been taken out in new loans.  Investments had been made in line with the CIPFA code of practice and balances had been managed well.  The Committee were informed that commercial opportunities were being explored.

 

Councillor referred to the investments not being longer than 364 days and as the Council had reserves in excess of £200k would we not be in a position to take the higher rate options on investments by looking for a longer term.  The Corporate Director of Resources assured the Committee that he was looking at this as an option but there needed to be some certainty before taking those kind of risks.

 

With regards to the vehicle lease Councillor Robinson raised concerns about the amount of money being spent on this area.  The Corporate Director of Resources explained that this was the most cost effective option for the size of the fleet required.

 

In response to a further question from Councillor Robinson about risks on companies such as Carillion, he was advised that there was nothing to report in relation to other major construction companies at this time however the market was being monitored at all times.

 

Resolved:

That the report be noted.

 

Supporting documents: