Decision details

The Cabinet resolved to recommend the Assembly to:

(i)  Note the Treasury Management Annual Report for 2017/18;

(ii)  Note that the Council complied with all 2017/18 treasury management indicators;

(iii)  Approve the actual Prudential and Treasury Indicators for 2017/18;

(iv)  Note that the Council borrowed £119.6m from the Public Works Loan Board (PWLB) in 2017/18 to fund the Council’s regeneration strategy and borrowed a further £15m from other local authorities to fund the Council’s land acquisition strategy; and

(v)  Maintain the delegated authority to the Chief Financial Officer, in consultation with the Cabinet Member for Finance, Performance and Core Services, to continue to proportionally amend the counterparty lending limits agreed within the Treasury Management Strategy Statement to reflect the additional cash holdings resulting from borrowing from the European Investment Bank and the PWLB.