Issue - meetings

Resolved to recommend acceptance of the report on Treasury Management performance in 2015/16 and the Prudential Indicators for 2015/16 actuals.

Decision

Resolved to recommend acceptance of the report on Treasury Management performance in 2015/16 and the Prudential Indicators for 2015/16 actuals.

Reason for Decision

To report upon the performance outturn for treasury management in 2015/16.

Implications

Financial

In accordance with Central Government Guidance on Local Government Investments, and the CIPFA Treasury Management Code of Practice, the order of the Council’s investment priorities is 1. Security; 2. Liquidity; and, 3. Return. This may result in the Council achieving a lower rate of return than an organisation operating a more aggressive investment strategy in a less regulated sector. 

Risk Implications

Good corporate governance encompasses risk management and making sure that the Council makes decisions with the full knowledge of the associated risks and opportunities.  The risk of not reviewing and updating our corporate governance arrangements have been addressed by this report.

Health & Safety Implications

None

Equalities Implications

None

Corporate Objectives

Dacorum Delivers - Optimising investment income for General Fund and Housing Revenue budgets whilst managing investment risk is fundamental to achieving the corporate objectives.

Monitoring Officer/S.151 Officer Comments

Monitoring Officer-

No comments to add to the report.

Deputy Section 151 officer-

This is a S151 Officer report

Advice

Councillor Elliot noted that this would be discussed at the Audit committee meeting on 21 September 2016.

He explained that the positive Capital Financing Requirement (CFR) indicates that the Council had a need to borrow. The General Fund reduction of £7.7m 2015-16, from (£4.5m) to £3.2m, relates to the financing of in-year expenditure on the Capital Programme. The HRA funds available for the future financing of the Capital Programme are held outside of the CFR in the Major Repairs Reserve and Earmarked Reserves, totalling £25.7m.

Voting

None.