To consider a report of the Executive Member for Finance and Governance & Director of Finance and Systems.

The Executive Member for Finance and Governance and the Director of Finance and Systemssubmitted a report which outlined the key treasury management activities undertaken during 2020/21, including: compliance with legislative and regulatory requirements and prudential indicators; average levels of external debt and interest rate payable for 2020/21; average level of treasury investments for 2020/21; and an adverse variance on the Treasury Management budget which had been incurred as a result of the impact of COVID-19 had on the economy and its impact on the MAG Airport Dividend of £5.597m not being received, and lower interest rates. It was noted that additional income from strategic investments, including loan facilities, of £624k had helped to reduce the impact.

RESOLVED - That the treasury management activities undertaken in 2020/21 be noted, and that it be recommended that both Executive and Council also note the report.