Issue - meetings

TREASURY MANAGEMENT 2019/20 MID-YEAR PERFORMANCE REPORT

Meeting: 30/10/2019 - Accounts and Audit Committee (Item 31)

31 TREASURY MANAGEMENT 2019/20 MID-YEAR PERFORMANCE REPORT pdf icon PDF 377 KB

To consider a report of the Executive Member for Finance and Investment and Corporate Director, Finance and Systems.

Minutes:

The Executive Member for Finance and Investment and Corporate Director of Finance and Systems submitted a report which set out for Members’ information a summary of Treasury Management activities undertaken for the first half of 2019/20, with particular reference to debt activity, investment activity and adherence to prudential indicators. On the latter, it was noted that the Council complied with its legislative and regulatory requirements and that there were no breaches of prudential indicators. Officers highlighted that the Council had changed the Investment Strategy to allow investment in more ethical vehicles and complement the Council’s Asset Investment Strategy. An opportunity was provided for Members to raise issues in relation to the report’s content, which focussed on the Green Deposit Notice account. Officers explained that the Treasury Management team had opened a Green Deposit Notice Account to place an element of the Council’s temporary investments to support the lower carbon economy. Members sought and received clarification with regard to loan with high interest rates and early repayment penalty for Lobo Loans.  

 

The Committee requested further information on the Lobo Loan early repayment charge and a graph representing loans with high interest rates. Members also requested information on the type of investigation conducted and criteria utilised to conclude that the Green Deposit Notice account provided a form of “green” investment.

 

RESOLVED – That the details of Treasury Management activities undertaken for the first half of 2019/20 be noted.