Cabinet considered the head of finance’s mid-year monitoring report on the council’s treasury management function. This covered the first six months of 2015/16 financial year (up to 30 September 2015) and updated on the current economic conditions with a view to the remainder of the year.
The Joint Audit and Governance Committee had considered the report at its meeting on 25 January 2016 and had not recommended any adjustments to the strategy as a result of the first six months’ activities. Likewise, Cabinet concluded that the treasury management activities had operated within the agreed parameters set out in the approved treasury management strategy. There would be no need for the council to borrow funds during this financial year.
RECOMMENDED to Council to approve the treasury management mid-year monitoring report 2015/16.