Decision details

Treasury Management 2019/20 Mid-Year Review

Decision Maker: Cabinet, Assembly

Decision status: Approved

Is Key decision?: Yes

Is subject to call in?: Yes


Cabinet resolved to:


(i)  Approve the revised 2019/20 Minimum Revenue Provision at Appendix 1 to the report;


(ii)  Note the Treasury Management Strategy Statement Mid-Year Review 2019/20;


(iii)  Note that in the first half of the 2019/20 financial year the Council complied with all 2019/20 treasury management indicators;


(iv)  Note the value of the treasury investments as at 30 September 2019 totalled £330.7m;


(v)  Note the value of the commercial and residential loans lent by the Council as at 31 March 2019 totalled £76.6m;


(vi)  Note the value of long term borrowing as at 30 September 2019 totalled £785.3m. This is split with £275.9m of Housing Revenue Account borrowing and £509.4m of General Fund borrowing. This comprised market, Public Works Loan Board (PWLB), Local Authority and European Investment Bank loans;


(vii)  Note the value of short term borrowing as at 30 September 2019 totalled £130.0m; and,


(viii)  Note the increase in the interest rates offered on new PWLB loans by 1.0% on top of existing loans terms of 0.8%, which equates to a margin of 1.8% above the relevant gilt yield.

Report author: David Dickinson

Publication date: 13/11/2019

Date of decision: 12/11/2019

Decided at meeting: 12/11/2019 - Cabinet

Effective from: 21/11/2019

Accompanying Documents: