To approve the treasury management outturn for 2018/19.

Council considered a report by the cabinet member finance and corporate services concerning the treasury management 2018/19 outturn. The cabinet member finance and corporate services introduced the report and proposed the recommendation. She explained that the outturn position consisted of a surplus of £1.9 million which increased cash reserves for capital projects and reduced the need for prudential borrowing. The cabinet member explained that there would be a review of the minimum revenue position and referred to a breach of the treasury management strategy to place an investment with a building society that was not on the council’s approved counter party list. Internal audit had conducted an investigation with the resulting recommendations implemented by officers. It was requested that the audit and governance committee include an update report on the matter.

The recommendation was seconded by Councillor Trish Marsh and put to the vote. Council approved the treasury management outturn for 2018/19 by a simple majority.

RESOLVED: That the treasury management outturn 2018/19 is approved.