Decision Maker: Cabinet, Assembly
Decision status: Approved
Is Key decision?: Yes
Is subject to call in?: Yes
(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: