57 JAC/19/4 ANNUAL TREASURY MANAGEMENT REPORT – 2018/19 PDF 893 KB
At its meeting on 29 July 2019, the Joint Audit and Standards Committee considered Paper JAC/19/4 Annual Treasury Management Report 2018/19 - attached.
The recommendations set out in the report were accepted.
It was RECOMMENDED TO COUNCIL:
1) That the Treasury Management activity for the year 2018/19 be noted. Further, that it be noted that performance was in line with the Prudential Indicators set for 2018/19.
2) That it be noted that Mid Suffolk District Council treasury management activity for 2018/19 was in accordance with the approved Treasury Management Strategy, and that the Council has complied with all the Treasury Management Indicators for this period.
Note – It is a requirement of the legislation that the Annual Treasury Management Report is submitted to the Full Council for noting.
Minutes:
11a.1 Councillor Muller, Chair of the Joint Audit and Standards Committee, introduced report JAC/19/4 and MOVED recommendation 3.1, which was SECONDED by Councillor Ekpenyong.
11a.2 Councillor Eburne referred to page 86 in the report, Appendix C, paragraph 2.3.6 and asked if the company folded, would the debt incurred by MSDC (Suffolk Holdings) Ltd be a liability to the Council’s tax payers.
11a.3 In response to Councillors Eburne’s and Passmore’s questions, the Assistant Director for Assets and Investments responded that the accounts for Gateway 14 were consolidated and that the loan for Gateway 14 was secured against the asset and that the Holding Company held the debt for Gateway 14.
11a.4 The recommendations were put to members for the vote and the vote was CARRIED.
It was RESOLVED: -
That the Treasury Management activity for the year 2018/19 be noted. Further that the performance was in line with the Prudential Indicators set for 2018/19 be noted.
172 JAC/19/4 ANNUAL TREASURY MANAGEMENT REPORT – 2018/19 PDF 893 KB
At its meeting on 29 July 2019, the Joint Audit and Standards Committee considered Paper JAC/19/4 – Annual Treasury Management Report 2018/19.
The recommendations set out in the report were accepted.
It was RECOMMENDED TO COUNCIL:
1) That the Treasury Management activity for the year 2018/19 be noted. Further, that it be noted that performance was in line with the Prudential Indicators set for 2018/19.
2) That it be noted that Babergh District Council treasury management activity for 2018/19 was in accordance with the approved Treasury Management Strategy, and that, except for one occasion when the Council exceeded its daily bank account limit with Lloyds by £391k, as mentioned in Appendix C, paragraph 4.6, the Council has complied with all the Treasury Management Indicators for this period.
Note – It is a requirement of the legislation that the Annual Treasury Management Report is submitted to the Full Council for noting.
Minutes:
10a.1 Councillor Hurren, Chair of the Joint Audit and Standards Committee, introduced report JAC/19/4 and summarised the main points in the report. He MOVED recommendations 3.1 and 3.2, which was SECONDED by Councillor Ward.
10a.2 Councillor Ward commented that the Report detailed how the Council was able to Fund the work decided by Committees, Council and Cabinet.
10a.3 Councillor Maybury asked if the Council incurred a penalty for the one occasion when the Council exceeded its daily bank account limit, and Councillor Hurren responded that no penalty had been incurred.
10a.4 Recommendations 3.1 and 3.2 were put to Members for voting and the vote was CARRIED.
It was RESOLVED: -
1.1 That the Treasury Management activity for the year 2018/19 be noted. Further, that performance was in line with the Prudential Indicators set for 2018/19 be noted.
That Babergh District Council treasury management activity for 2018/19 was in accordance with the approved Treasury Management Strategy, and that, except for one occasion when the Council exceeded its daily bank account limit with Lloyds by £391k, as mentioned in Appendix C, paragraph 4.6, the Council has complied with all the Treasury Management Indicators for this period be noted.