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Treasury Management Strategy Statement and Prudential Indicators Mid-Year Review Report 2019/20

Meeting: 24/10/2019 - Audit Committee (Item 267)

267 Treasury Management Strategy Statement and Prudential Indicators Mid-Year Review Report 2019/20 pdf icon PDF 96 KB

To consider the ATTACHED report on the Treasury Management mid-year review 2019/20, attached at Appendix 1, for recommendation to Council for information.

Additional documents:

Minutes:

Officers presented the report on the Treasury Management mid-year review 2019-20 (Appendix 1) to the Committee.

 

The Public Works Loan Board (PWLB) had increased their rates for borrowing by 1% at short notice.  This would have ramifications for the financial viability of schemes where borrowing was required.

 

A Member queried whether there were opportunities to increase returns through lending.  The Head of Finance & Business Services confirmed that this was kept under regular review as part of the strategy.  The loan to InspireAll and the potential loans to Hertsmere Developments Limited were examples of this.  The priority for the Council was investing in its own services.  Every option, including borrowing to support capital investment, was assessed for each scheme to ensure that the most appropriate financial method was used.

 

RESOLVED that the Audit Committee, as the Council’s nominated body, RECOMMEND to Council for noting the Treasury Management mid-year review 2019/20 attached at Appendix 1 of A/19/30.

 

Note: This will be presented to Full Council with the annual Treasury Management Strategy towards the end of the Financial Year.