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Issue - meetings

Treasury Management Mid-Year Report

 

 

Meeting: 30/11/2023 - Audit and Governance Committee (Item 241)

241 Treasury Management Mid-Year Report pdf icon PDF 568 KB

Purpose

To receive and discuss details of the Council's Treasury Management performance for the period 01 April to 30 September 2023 and Quarter 2 Treasury Management Prudential Indicators.

 

Recommendation

That the Audit and Governance Committee resolves to:

1.    Recommend to Council to approve the Council’s Treasury Management performance for the period 01 April 2023 to 30 September 2023 and Quarter 2 Prudential Indicators.

 

Invited

David Stanley, Deputy Chief Executive Officer

Additional documents:

Minutes:

The purpose of the item was to receive and discuss details of the Council's Treasury Management performance for the period 01 April to 30 September 2023 and Quarter 2 Treasury Management Prudential Indicators.

 

The Chair invited the Deputy Chief Executive to provide an overview of the report.

 

The Deputy Chief Executive stated that the report highlighted treasury management performance, compliance with prudential indicators, and the impact of interest rate changes, which had been positive due to a low amount of interest rates.

 

Members discussed the report, and asked questions on the following, which the Deputy Chief Executive provided information on:

  • There had been a decrease in the Council’s reserves due to the use of capital receipts, but spending of these had now decreased.
  • It was noted that there was a typographical error in paragraph 4.8, and that it should be £500,000 not £50,000
  • The concept of a liability benchmark was explained, which was a projection of the amount of loan debt outstanding that the authority needs each year into the future to fund its existing debt liabilities, planned prudential borrowing and other cash flows.
  • Internal borrowing was explained, which balanced the opportunity cost, against the cost of external borrowing.

 

 

RESOLVED: To RECOMMEND to Council to approve the Council’s Treasury Management performance for the period 1 April 2023 to 30 September 2023 and Quarter 2 Prudential Indicators.

 

Voting record – for 4, against 0, abstention

 

 

 

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