Issue - meetings

To submit a report by the Head of Function (Resources)/Section 151 Officer.

It was resolved –

·        To note that the outturn figures in the report will remain provisional until the audit of the 2016/17 Statement of Accounts is completed and signed off; any resulting significant adjustments to the figures included in this report will be reported as appropriate.

·        To note the provisional 2016/17 prudential and treasury indicators in the report.

·        To forward the report to the next meeting of the Full Council without any further comment.

The report of the Head of Function (Resources) and Section 151 Officer incorporating the Treasury Management Review for 2016/17 was presented for the Executive’s consideration.

The Portfolio Member for Finance reported that the Council is required by regulations issued under the Local Government Act 2003 to produce an annual treasury management review of activities and the actual prudential and treasury indicators for 2016/17.The report provides a review of the Council’s borrowing and investment activities during the year and the considerations pertaining thereto. The financial year 2016/17 continued the challenging investment environment of previous years, namely low investment returns.

The Head of Function (Resources) and Section 151 Officer said that the Council is required to report on its treasury management activities and to confirm that it has complied with its legislative and regulatory requirements. The Officer said that the External Auditors who will be formally reporting on their audit of the Council’s final accounts for 2016/17 to the Audit Committee later in the week had not as part of the audit made any significant adjustments to the treasury management outturn figures.

It was resolved –

•  To note that the outturn figures in the report will remain provisional until the audit of the 2016/17 Statement of Accounts is completed and signed off; any resulting significant adjustments to the figures included in this report will be reported as appropriate.

•  To note the provisional 2016/17 prudential and treasury indicators in the report.

•  To forward the report to the next meeting of the Full Council without any further comment.