Issue - meetings

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

(1)         Cabinet

-          6 July 2021

-          3 August 2021

2)        Scrutiny Committee

-                 19 July 2021

-                  16 August 2021 (to follow)

(3)       Audit Committee

-          27 July 2021

(4)       Environment Policy Development Group

-                13 July 2021

(5)       Homes Policy Development Group

-                     20 July 2021

(6)       Economy Policy Development Group

-                 15 July 2021

(7)       Community Policy Development Group

-                     27 July 2021

(8)       Planning Committee

-                14 July 2021

-                28 July 2021

-                11 August 2021

-                18 August 2021 (to follow)

(9)      Standards Committee

-                     7 July 2021

(10)    Licensing Committee

-                     6 August  2021

(10)   Regulatory Committee

-                     6 August 2021

The Leader presented the report of the meeting of the Cabinet held on 6 July 2021.

1.    Annual Treasury Management Report (Minute 32)

The Leader MOVED, seconded by Councillor B A Moore:

THAT the recommendations of the Cabinet as set out in Minute 32 be APPROVED

Following discussion and upon a vote being taken the MOTION was declared to have been CARRIED.

Reason for the Decision – there is a need to approve the Annual Treasury Management Review in line with CIPFA guidance

Note:  Councillors J M Downes and J Wright requested that their abstention from voting be recorded.

To consider a report of the Deputy Chief Executive (S151) providing Members with a review of activities and the Prudential Treasury Indicators on actuals for 2020/21.

The Cabinet had before it a * report of the Deputy Chief Executive (S151) providing Members with a review of activities and the Prudential Treasury Indicators on actuals for 2020/21.

The Cabinet Member for Finance outlined the contents of the report stating that this was a specialist area and vital in keeping council finances healthy; the council had maintained an under borrowed position and it had been able to use resources, balances and cash flow to meet its needs.  Investments had conformed to the approved strategy and there were no liquidity difficulties, returns from investments were ahead of expectations.

Consideration was given to:

·         The £10m loan to 3 Rivers Developments Limited had come from cash reserves rather than borrowing and whether the S151 Officer could explain the risks as well as the benefits of this

·         Information with regard to the ‘credit loss model’ and the impact of this on external lending and the changes to accountancy rules

·         What was Mid Devon’s unrealised fair value movement?

(Proposed by Cllr B A Moore and seconded by Cllr R J Chesterton)

Reason for the decision – there is a need for Council to consider the Annual Treasury Management review in line with CIPFA guidance.

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