Issue - meetings

To receive and consider the reports, minutes and recommendations of the recent meetings as follows:

(1)          Cabinet

-          29 October 2020

-           3 December 2020

2)        Scrutiny Committee

-                 9 November 2020

-                  14 December 2020

(3)       Audit Committee

-          17 November 2020

(4)       Environment Policy Development Group

-                3 November 2020

(5)       Homes Policy Development Group

-                     10 November 2020

(6)       Economy Policy Development Group

-                 5 November 2020

(7)       Community Policy Development Group

-                     17 November 2020

-                     8 December 2020

(8)       Planning Committee

-                4 November 2020

-                13 November 2020

-                2 December 2020

The Leader presented the report of the meeting of the Cabinet held on 29 October.

1.    Treasury Management Strategy and Mid Year Review (Minute 255)

The Leader MOVED seconded by Councillor C R Slade:

THAT the recommendations of the Cabinet as set out in Minute 255 be ADOPTED.

Upon a vote being taken the MOTION was declared to have been CARRIED.

Reason for the Decision – in line with CIPFA guidance, the Council must agree a Treasury Management Strategy.

Note:  Councillor Mrs E M Andrews declared a personal interest in Minute 258 (19 High Street, Cullompton) as a member of the Town Council and a member of the Town Team.

To receive a report of the Deputy Chief Executive (S151)informing the Cabinet of the treasury performance during the first six months of 2020/21, to agree the ongoing deposit strategy for the remainder of 2020/21 and a review of compliance with Treasury and Prudential Limits for 2020/21.

The Cabinet had before it a * report of the Deputy Chief Executive (S151) informing it of the treasury performance during the first six months of 2020/21, to agree the ongoing deposit strategy for the remainder of 2020/21 and a review of compliance with Treasury and Prudential Limits for 2020/21.

The Cabinet Member for Finance outlined the contents of the report stating that a continuation of the current policy was proposed and that there would be a reduced borrowing requirement driven by reduced requirements from 3 Rivers developments Limited and the impact of the pandemic.

Consideration was given to how cash balances naturally reduced towards the end of the financial year and the need for some borrowing to take place.

RECOMMENDED to Council that:

(Proposed by Cllr B A Moore and seconded by Cllr C R Slade)

Reason for the decision – the Council must agree a Treasury Management Strategy.

Note:  *Report previously circulated, copy attached to minutes.