Decision Maker: Executive
Decision status: For Determination
Is Key decision?: Yes
Is subject to call in?: No
The Executive Member for Financial Sustainability submitted a report which reviewed the Council’s treasury management activity for first six months of 2020/21 financial year, including the prudential indicators. He added that references to 2019/20 should be 2020/21
Appendix A contained the review and Members were being asked to recommend this to Council. He explained that the recommendation to increase the counter party limited from £20M to £30M was brought on by the receipt of a large sum of Government funding for Covid-19 related business support grants which had briefly exceeded the current limits.
There being no comments, Councillor Williamson proposed and Councillor Buckmaster seconded a motion supporting the recommendations in the report. On being put to the meeting and a vote taken, the motion was declared CARRIED.
RESOLVED – that the Executive recommends to Council (A) the approval of the Treasury Management Mid-Year Review 2019/20;
(B) the revised Prudential Indicators as shown in Appendix A (columns, entitled revised estimates, highlighted ‘green’ within tables); and
(C) increase the counter party limit, from £20m to £30m, for the National Westminster Bank.
Report author: Steven Linnett
Publication date: 26/11/2020
Date of decision: 24/11/2020
Decided at meeting: 24/11/2020 - Executive