Decision Maker: Executive
Decision status: For Determination
Is Key decision?: No
Is subject to call in?: No
The Executive considered a report with regard to the Mid Year Review of the 2020/21 Treasury Management Strategy.
The Strategic Director (CF) advised that the Audit Committee, at its meeting held on 17 November 2020, had considered the report. The Committee had asked questions regarding why the Amundi Money Market Fund had closed, and about the level of self-financing borrowing costs for the Housing Revenue Account. The £200M of borrowing referred to in the latter question took place in 2012 and had cost SBC in the region of £6.5M a year to finance.
It was RESOLVED:
1, That Council be recommended to approve the 2020/21 Treasury Management Mid Year review.
2. That Council be recommended to approve the latest Countries for investment list (Appendix D to the report).
3. That the updated authorised and operational borrowing limits be approved (as set out in Paragraph 4.4.7 of the report).
4. That comments from the Audit Committee and Executive be incorporated into the report to Council on 16 December 2020.
Reason for Decision: As contained in report.
Other Options considered: As contained in report.
Publication date: 18/11/2020
Date of decision: 18/11/2020
Decided at meeting: 18/11/2020 - Executive