5 Treasury Management PDF 251 KB
To consider a report of the Director of Finance.
Minutes:
The Deputy Executive Leader / Director of Finance submitted a report setting out the Treasury Management activities for the financial year 2017/18. As investment rates were lower than external borrowing rates throughout the year, available cash reserves were used to fund internal borrowing on a temporary basis. This resulted in lower than anticipated borrowing costs with an overall interest saving of £0.404 million. At year-end the total investment balance was £127 million and total long term borrowing was £112 million. Investment income was £1.521 million.
Details were also given of the following:-
RESOLVED:
(i) That the treasury management activities undertaken on behalf of both Tameside MBC and the Greater Manchester Metropolitan Debt Administration Fund (GMMDAF) be noted; and
(ii) The outturn position for the prudential indicators, as appended to the report, be approved.