Decision details

The Cabinet gave consideration to a report of the Director of Finance which provided details of the performance of the Treasury Management function of the Council for the first half of 2022/23 and a comparison of performance against the 2022/23 Treasury Management Strategy and Prudential Indicators. 

The Council was required to consider the performance of the Treasury Management function in order to comply with the Chartered Institute of Public Finance and Accountancy (CIPFA) Code of Practice on Treasury Management. This report set out the key Treasury Management issue for Members information and review and outlined:

An economic update for the first six months of 2022/23.;

• A review of the Treasury Management Strategy Statement and Annual Investment Strategy;

• The Council’s capital expenditure, as set out in the Capital Strategy, and prudential indicators;

• A review of the Council’s investment portfolio for 2022/23;

• A review of the Council’s borrowing strategy for 2022/23;

• Why there has been no debt rescheduling undertaken during 2022/23; and

• A review of compliance with Treasury and Prudential Limits for 2022/23.

Option/alternatives considered

In order that the Council complies with the Chartered Institute of Public Finance Code of Practice of Treasury Management the Council has no other option but to consider and approve the contents of the report.

RESOLVED – That:

1. That Cabinet approves and commends to Council the:
2. The Treasury Management activity for the first half of the financial year 2022/23 and the projected outturn position be approved and commended to Council.
3. Amendments to both Authorised Limit and Operational Boundary for external debt as set out in the table at Section 2.4.5 of the report be approved and commended to Council.
4. Amendments to the Capital Financing Requirement (CFR) as set out in the table at section 2.4.5 of the report be approved and commended to Council.