9 TREASURY MANAGEMENT 2019/20 PDF 252 KB
To consider the
Investment Managers Report
Decision:
The information was accepted.
Minutes:
Submitted – a report by the Investment Manager noting that
an annual decision had been made to permit the surplus funds of the Pension
Fund to be pooled and co-invested with the Council's overall cash-flow.
The officer stated that the report compared actual performance against the
strategy for the 2019/20 financial year, and fulfilled the Council's legal
obligation under the Local Government Act 2003 to have regard to both the CIPFA
Code and the Welsh Government's Investment Guidance.
It was reported that during the 2019/20 financial year, the
Council's borrowing activity had remained within the limits originally set, and
it had received £546,000 of interest on investments which
was above the budgeted level of £406,000. She added that there
had been no defaults by any banks with which the Council had invested money,
and all prudential indicators had been met.
Although the reduced value of investments by year end at 31/03/20 highlighted the negative impact of the
Covid-19 pandemic, she stressed that medium-term investments were the focus,
therefore there was an opportunity to recover / reclaim the loss.
RESOLVED to accept the information.