The Director of Finance submitted a report which provided an overview of Treasury Management activity in 2008/09 and confirmed compliance with treasury limits and Prudential Indicators. It had been prepared in accordance with the CIPFA Treasury Management Code and the Prudential Code.

Resolved –

(1)  That the Treasury Management Annual Report be agreed.

(2)  That the benefits from improved cash flow management which realised savings/additional income of £3.4m in 2008/09 be noted.

(3)  That the transfer of the 2008/09 allocation of MRP to reserves be agreed.