1. That the Annual Treasury Management Report for 2017/18 and the outturn Prudential Indicators for 2017/18, be approved.

2. That it be noted that the financing of 2017/18 capital expenditure of £60.996m has been funded in accordance with the schedule set out in Table 1 of section 4 of the submitted report.

3. That it be noted that the Capital Financing and Treasury Management were carried out in accordance with statutory requirements, good practice and in compliance with the CIPFA (The Chartered Institute of Public Finance and Accountancy) Prudential Code during 2017/18.

4. That, in respect of the return on investment and borrowing, the following be noted:

·         The loan and investment portfolios were actively managed to minimise cost and maximise interest earned, whilst maintaining a low level of risk;

·         £2.05m of interest was earned during the whole of 2017/18 at an average rate of 2.49%.  This is 2.27% over the benchmark of the average 7 day LIBID (London Interbank Bid Rate) and 2.14% over the average bank base rate;

·         The level of borrowing from the Public Works Loan Board (PWLB) (excluding debt relating to services transferred from Essex County Council on 1^st April 1998) remained at the same level of £227.8m (Housing Revenue Account (HRA): £77.0m, General Fund (GF): £150.8m) throughout 2017/18.

·         The level of financing for ‘invest to save’ schemes increased from £7.90m to 8.74m by the end of 2017/18.