Issue - meetings

To consider and decide on the recommendations as set out in the associated report.

RESOLVED –

1.     That the Treasury Management and Prudential Indicator position for 2020/21 be noted.

2.     That the investment and bank interest for 2020/21 of £608,000, was a decrease of £25,000 from the approved budget of £633,00 but an improvement of £22,000 from the quarter 3 projection be noted.

REASON FOR DECISION:

Ensuring effective cash flow management was vital in order to support all the services provided by the Council. The interest received from investments was an important source of income in helping to set a balanced budget.

Lee Colyer, Director of Finance, Policy and Development introduced the report as set out in the agenda.

Discussion and questions from Members included the following:

-       Questions had been raised previously regarding investments in the Property Fund. The news that the decision to hold those investments had been justified was very welcome.

RESOLVED –

1.    That the Treasury Management and Prudential Indicator position for 2020/21 be noted.

2.    That the investment and bank interest for 2020/21 of £608,000, was a decrease of £25,000 from the approved budget of £633,00 but an improvement of £22,000 from the quarter 3 projection be noted.

REASON FOR DECISION:

Ensuring effective cash flow management was vital in order to support all the services provided by the Council. The interest received from investments was an important source of income in helping to set a balanced budget.

To consider and provide a recommendation to Cabinet on the proposals set out in the attached report.

Jane Fineman, Head of Finance, Procurement and Parking introduced the report set out in the agenda.

RESOLVED – That the recommendations to Cabinet as set out in the report be supported.