Councillor Phil Davies introduced a report of the Acting Section 151 Officer which reviewed Treasury Management policies, practices and activities during the first 6 months of 2015/16. It projected a £2.5 million underspend in 2015/16 and confirmed compliance with treasury limits and prudential indicators being prepared in accordance with the CIPFA Treasury Management Code and the Prudential Code for Capital Finance in Local Authorities. 

Councillor Phil Davies commented upon the good work of Finance officers in the use of internal resources which was more cost effective than undertaking longer term external borrowing.

RESOLVED:

That the Treasury Management Performance Monitoring Report be accepted in meeting the Council’s obligations under the Treasury Management Code.