Decision Maker: Overview and Scrutiny Committee
Decision status: For Determination
Is Key decision?: No
Is subject to call in?: No
The attached report reviews treasury
performance during 2018/19 against the Council’s Treasury
Management Strategy. This is a historic review for noting by
The Treasury Management Annual Report 2018/19 was presented by the Finance and Resources Portfolio Holder. He informed the Committee that the level of external debt had not changed during 2018/19 and that despite the strong cash position of the Council, the current premium level of 93% meant that it was not recommended to make a further repayment of debt. Furthermore, he highlighted the significant fluctuation in the Council’s cash flow and attributed it partly to the timing of collection of both Council Tax and Non-Domestic Rates. The Portfolio Holder emphasised the need for a dynamic management of the investment portfolio which would ensure that the strong financial position of the Council benefits the residents of South Lakeland. He concluded his report by highlighting that SLDC’s investments had out-performed benchmark rates and that the increase in interest rates earlier in the year meant that earnings from interest had been higher than expected.
RESOLVED – That Council be recommended to approve the 2018/19 Treasury Management Annual Report.
Report author: Claire Read
Publication date: 25/07/2019
Date of decision: 12/07/2019
Decided at meeting: 12/07/2019 - Overview and Scrutiny Committee