Decision details

The purpose of this report is to update Members on the Council’s treasury management activity for the first six months of the year, including investment and borrowing activity and treasury performance.

The Cabinet received a report (a copy of which is appended in the Minute Book) that provided an update on the Council’s treasury management activity for the first six months of the year, including investment and borrowing activity and treasury performance.

With the aid of the report prepared by the Director of Finance and Corporate Resources (a copy of which is appended in the Minute Book) it was noted that (i) the Council had approved the 2023/24 Treasury Management Strategy at its meeting on 22nd February 2023; (ii) all treasury management activity undertaken during the first half of 2023/24 complied with the CIPFA Code of Practice, relevant legislative provisions, and the Treasury Management Strategy; (iii) the investment strategy is to invest any surplus funds in a manner that balances negligible risk of default by the borrower with a fair rate of interest; and (iv) the Council’s borrowing strategy permits borrowing for cash flow purposes and funding current and future capital expenditure over whatever periods are in the Council’s best interests.

As a result of discussions on the report the Cabinet

RESOLVED

(a)  that the treasury management performance for the first six months of 2023/24 be noted; and

(b)  that the report be recommended to Council for consideration.

As outlined in the report.

As outlined in the report.

As outlined in the report.