Issue - meetings

(Cabinet member responsible: Mr D Dodds)

Cabinet, at its meeting on 9 October 2014, will consider a report on the outturn performance of the treasury management function for the financial year 2013/14.

The report of the head of finance, which Cabinet will consider on 9 October, is attached.

The recommendations of Cabinet will be circulated to councillors on Friday 10 October 2014.

Council considered the Cabinet’s recommendation, made at its meeting on 9 October 2014, on the outturn performance of the treasury management function for the financial year 2013/14 and the approval of the actual 2013/14 prudential indicators in accordance with the requirements of the CIPFA Treasury Management Code of Practice and Treasury Management Practice 6.

In introducing the item Mr Hall, Cabinet member for finance, reported that investment income was higher than predicted in the 2013/14 budget and the Audit and Corporate Governance Committee, at its meeting on 29 September 2014, had welcomed the report and was satisfied that the treasury activities were carried out in accordance with the treasury management strategy and policy. 

Mr Hall undertook to provide Mr Turner with a written response to his questions on why the council did not make a lump sum contribution to the Oxfordshire County Council pension fund this year and what guidance the government had provided to local authorities to mitigate against a repeat of the Icelandic bank investment defaults.

RESOLVED: to

1.    approve the treasury management outturn report for 2013/14;

2.    approve the actual 2013/14 prudential indicators within the report of the head of finance to Cabinet on 9 October 2014.