The Cabinet Member for Finance and Resources introduced a report on the latest treasury management activities. The report fulfilled the Authority’s legal obligation under the Local Government Act 2003 to have regard to both the CIPFA Code and the Ministry of Housing, Communities and Local Government (MHCLG) Investment Guidance.

Proactive Treasury Management activity had resulted in:

·  A projected balanced outturn despite the £2 million reduction in budget that had been applied to Treasury Management in 2019/20. This was due to reduced 2019/20 interest payments and management of the Authority’s Capital Financing.

On a motion by Councillor Janette Williamson, seconded by Councillor Tony Jones, it was -

Resolved - That the Treasury Management Mid-Year Report for 2019/20 be agreed.

Reasons for decision:

1.  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 mid-year review for 2019/20.

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