Issue - meetings

Treasury Management Outturn 2020/21

Meeting: 17/06/2021 - Cabinet (Item 4)

4 Treasury Management Outturn 2020/21 pdf icon PDF 117 KB

This report sets out the activities and performance of the Treasury Management function during 2020/21.

 

Cabinet Portfolio Holder: Councillor Peter Butlin

Additional documents:

Minutes:

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.

 

Resolved:

 

That Cabinet notes the Treasury Management outturn in respect of 2020/21.