Issue - meetings

Treasury Management Annual Report

Meeting: 18/07/2016 - Cabinet (Item 26)

26 Treasury Management Annual Report pdf icon PDF 367 KB


The effective management of resources is vital to the success of the Council. Our proactive Treasury Management generated £4 million of savings during 2015/16. This is real cash which helps to finance services. This comes from sensible decisions regarding borrowing and the returns made on our cash flows from diversified investments in a range of safe institutions including banks, money market funds and local authorities.


    Councillor Phil Davies




Councillor Phil Davies introduced the report of the Principal Accountant, which stated that the Authority’s treasury management activity was underpinned by CIPFA’s Code of Practice on Treasury Management, which required the production of annual Prudential Indicators and a Treasury Management Strategy Statement on likely financing and investment activity. The Code also recommended that Members were informed of treasury management activities at least twice a year. 


The report fulfilled the Authority’s legal obligation under the Local Government Act 2003 to have regard to both the CIPFA Code and the Department for Communities and Local Government (CLG) Investment Guidance. 


Proactive Treasury Management activity resulted in savings of £4 million being made in 2015/16 and he thanked the Treasury Management Team for their work and the fact that there was a reduction in external borrowing.


Reason for decision:


Wirral had adopted the CIPFA Code of Practice on Treasury Management (“the Code”), which included regular update reports to Members of treasury activity. This report was the year-end review for 2015/16.


Under the Council’s financial regulations any surplus resources were returned to balances and so used to support the delivery of other Council services.




(1)  That the Treasury Management Annual Report for 2015/16 be agreed.


(2)  That the transfer of the saving of £4.0 million from capital financing activities in 2015/16 to the General Fund balance be noted.