Issue - meetings

Reporting Person – Leigh Clarke

The Executive received a report on Treasury Management performance for 2019-20 in accordance with the Council’s policy on Treasury Management.  Following a question regarding the loans due for repayment in 2020/21 and 2021/22 set out in Appendix 2 to the report, the Executive was informed that the majority of the loans in the schedule related to short term borrowing which was currently being refinanced.  It was explained that the majority of the Council’s borrowing was for long term projects and therefore there were no funds available for repayment and the borrowing would be refinanced.  It was noted that the Council was currently running at a high level of short term borrowing compared to previous years due to the 1% increase in the PWLB borrowing rate.  Officers agreed to investigate providing the information discussed regarding loan repayments in the Green Book for cross-referencing purposes.

RESOLVEd

That the annual report on Treasury Management performance for 2019/20 be received, and the compliance with the Council’s approved arrangements be noted.

Reason:   To receive the annual report on Treasury Management performance for 2019/20 in accordance with the Council’s policy on Treasury Management.