Year-end report on treasury and cash management activities and the Prudential Indicators

Councillor Phil Davies introduced a report by the Director of Resources which presented a review of Treasury Management activities in 2013/14 and confirmed compliance with treasury limits and prudential indicators.  The report fulfils the Authority’s legal obligation under the Local Government Act 2003 to have regard to both the CIPFA Code of Practice on Treasury Management and the Department for Communities and Local Government Investment Guidance.

The report further highlighted that the Authority achieved in-year savings from the re-profiling of the Capital Programme with the need for external borrowing offset by the temporary use of internal funds.  This use of internal funds reduced the sums available for investment and low interest rates meant the income target was not achieved but, overall, Treasury Management activities underspent by £2 million in 2013/14.  The Authority also complied with the Prudential Indicators. 

RESOLVED: That

(1)  the Treasury Management Annual Report for 2013/14 be agreed;

(2)  the compliance with Prudential Indicators in 2013/14; and

(3)  the saving of £2 million from capital financing activities in 2013/14 be noted and welcomed.