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

The Executive Member for Finance and Investment and the Corporate Director of Finance and Systems submitted a report which outlined the key treasury management activities undertaken during 2019/20, including in relation to compliance with legislative and regulatory requirements, average level of external debt and interest rates payable, average level of treasury investments, and  net budget savings of £(1.2)m generated mainly as a result of increased levels of income received from Manchester Airport Holding Limited in the form of share dividends and loan contributions. Thanks were accorded to the Treasury team for performance achieved during the year. In response to a query, it was agreed that the Corporate Director, Finance and Systems would advise, outside the meeting, on the current level of inter-authority loans and any potential consequences of a Local Authority which owed money to this Council finding it necessary to issue a s.114 Notice.

            RESOLVED – That the content of the report be noted.