Decision details

The Committee considered a review of Treasury Management activities in 2015/16. 

The review included:

·  A review of the economic conditions during 2015/16;

·  Borrowing activity;

·  Investment activity; and

·  Actual results measured against 2015/16 Prudential indicators and Treasury Management Indicators

The Committee was advised that Treasury Management activity was influenced by the economic situation and anticipated movement in interest rates and that therefore, the decision to leave the European Union was likely to have a substantial effect on the council's Treasury Management Strategy going forward.

Assurances were also sought regarding the provision of Treasury Management by Local Pensions Partnership Limited (LPPL) having regard to the fact that key staff had now transferred to LPPL. It was reported that negotiations with LPPL were ongoing for the Company to provide the Treasury Management function which would mitigate the "key man" risk. For the present the function continued to be delivered by the former Council officer under separate arrangements with the Council.

Resolved:  That the review of treasury management activities for 2015/16 to date as shown at appendix A to the report now presented, be noted.