Issue - meetings

The Deputy Leader and Executive Member for Financial Sustainability proposed the recommendation made by the Executive, as referred to in the Executive report of 24 November 2020, in respect of the Treasury Management Mid-Year Review 2019/20.

Councillor Williamson said that the mid-year review had been considered by the Audit and Governance Committee and the Executive. He said that the third recommendation was to raise the counter party limit from £20m to £30m, due to the unusual circumstances of receiving a large lump sum from the government for the COVID-19 related business support grant, which had briefly exceeded the current limit. Councillor Pope seconded the motion.

A motion to support the recommendation having been proposed and seconded, was put to the meeting and a vote taken. The motion was declared CARRIED.

RESOLVED – that (A) the Treasury Management Mid-Year Review 2019/20, be approved;

(B)   the revised Prudential Indicators as detailed in Appendix A (columns, entitled revised estimates, highlighted ‘green’ within tables), be approved; and

(C)   the increase in the counter party limit, from £20m to £30m, for the National Westminster Bank,  be approved.