Issue - meetings

TREASURY MANAGEMENT ANNUAL PERFORMANCE 2020/21 REPORT

Meeting: 26/07/2021 - Executive (Item 20)

20 TREASURY MANAGEMENT ANNUAL PERFORMANCE 2020/21 REPORT pdf icon PDF 889 KB

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

Minutes:

The Executive Member for Finance and Governance and the Director of Finance and Systemssubmitted a report which outlined the key treasury management activities undertaken and issues which had affected Treasury Management performance during 2020/21, including: compliance with legislative and regulatory requirements and prudential indicators; average levels of external debt and interest rates 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 on the economy and its impact on the anticipated MAG Airport Dividend of £5.597m which was not received, and lower interest rates. It was noted that additional income from strategic investments of £624k had helped to reduce the impact, and thanks were expressed to the Treasury team for its efforts in this area.

 

RESOLVED – That the treasury management activities undertaken in 2020/21 be noted.