Decision details

Cabinet resolved to recommend the Assembly to:

(i)  Note the Treasury Management Annual Report for 2015/16;

(ii)  Note that the Council complied with all 2015/16 treasury management indicators;

(iii)  Approve the actual Prudential and Treasury Indicators for 2015/16;

(iv)  Approve the amendments to the counterparty limits as set out in section 4.4 of the report;

(v)  Note that the Council borrowed £50m from the Public Works Loan Board (PWLB) in June 2016 to fund capital expenditure; and

(vi)  Maintain the delegated authority to the Strategic Director for Finance and Investment, in consultation with the Cabinet Member for Finance, Growth and Investments, to continue to proportionally amend the counterparty lending limits agreed within the Treasury Management Strategy Statement to take into account the additional cash holdings resulting from borrowing from the European Investment Bank and the PWLB.