Issue - meetings

The Finance Manager presented the new, easier to read report.  This was the second report for 2018/19.

A Member, in relation to the activity of the Investments Committee, questioned the statement that “Total debt rose above the operational boundary when the loan was taken out to pay for the purchase of Newport Leisure Park which had not been allowed for in the operational boundary included in the 2018/19 treasury strategy” and enquired if treasury strategy will be adjusted next year if the recommendations of the Investments Committee are to be continued.

The difference between operation boundary and absolute limit was explained.  The expenditure of nearly £30m exceeded the operational boundary but not the absolute limit of £50m for three years.  Spending on Castlegate and Newport Leisure Park is within the absolute limit. 

The recommendation that Members note the results of treasury management activities and the performance achieved in 2018/19 as part of their delegated responsibility to provide scrutiny of treasury policy, strategy and activity on behalf of the Council was agreed.