Decision details

The Committee gave consideration to a report providing a summary of the financial monitoring reports as at the end of June 2021.  There were six detailed reports setting out the position as at the end of June 2021 which were summarised in the submitted report and which included the Revenue Budget Monitoring Report, Monitoring of Policy Savings Options, Monitoring of Financial Risks, Capital Plan Monitoring Report, Treasury Monitoring Report and Reserves and Balances.

Decision

The Policy and Resources Committee –

1.    Noted the revenue budget monitoring report as at 30 June 2021 and noted the comments in respect of the Health and Social Care Partnership.

2.    Noted the progress with the policy savings options as at 30 June 2021.

3.    Noted the financial risks for 2021-22.

4.    Noted the capital plan monitoring report as at 30 June 2021.

5.    Noted the treasury monitoring report as at 30 June 2021.

6.    Recommended to Council the approval of the following amendments to the Annual Treasury Management Strategy:

              i.        Increase the investment limit for term deposits with UK banks from £15m to £20m.

             ii.        Increase the investment limit for term deposits with all other banks from £10m to £15m.

7.    Noted the reserves and balances report as at 30 June 2021.

8.    Recommended to Council that the revenue virements over £0.200m during April to June 2021 are approved.

(Reference:  Report by Section 95 Officer dated 9 July 2021, submitted)