Issue - meetings

Members considered a report on annual treasury management activities and prudential indicators for 2018/19 in accordance with the Local Government Act 2003.

Following discussions between Members and officers, the following points were highlighted:

·         Treasury investment activities had generated £246,000 of investment interest at an average rate of 1.57%;

·         There had been a good return on balances; the report showed that no regulatory limits had been broken;

·         The valuation volatility reserve was set at 5%, and if used, could be rebuilt during the year;

·         West Lindsey District Council’s (WLDCs) purchased investments had long leases, and should lead to increases in values rather than decreases;

·         Full due diligence was carried out on the occupants of properties that were being considered for purchase by WLDC.  Professional advice would be sought from the relevant sectors;

·         As an authority WLDC can borrow for the current year and two years ahead.  Money cannot be borrowed and put into other investments for income generating purposes.

RESOLVED toaccept the Annual Treasury Management Report and actual Prudential Indicators and recommend to Full Council for approval.