This report sets out the activities and performance of the Treasury Management function during 2020/21.
Cabinet Portfolio Holder: Councillor Peter Butlin
Councillor Peter Butlin opened by stating that the Covid Pandemic had impacted on how money is managed. There has been a growing requirement for agility and on occasions it has been necessary to access funds quickly. Investment returns were low in the last year at 0.52% (compared to 0.99% in the previous year). Nevertheless, they did exceed the benchmark of 0.41%.
Negative interest rates had been avoided and balances had increased. Net borrowing had increased but remained low compared to other authorities.
That Cabinet notes the Treasury Management outturn in respect of 2020/21.