Issue - meetings

To receive an update on the Council’s treasury management activity during 2021/22, including investment and borrowing activity and treasury performance.

Executive Councillor: B Mickelburgh.

The Cabinet has commented on the treasury management performance for 2021/22 and recommended the report to Council for consideration.

With the aid of a report prepared by the Chief Finance Officer (a copy of which is appended in the Minute Book) the Cabinet were updated on the Council’s treasury management activity during 2021/22 which included investment and borrowing activity and treasury performance.

The Financial and Treasury Accountant reported that a half yearly report had been presented to the Cabinet in October 2021 and that this report provided outturn figures for the 2021/22 financial year. He went on to report that both inflation and interest rates had increased and that no borrowing had been undertaken by the Council in that year. In receiving an update on the Council’s investment position, it was reported that the Council’s average investing rate was at 0.82%.

In noting the views of the Overview and Scrutiny Panel (Performance and Growth) and having received assurances that climate and environment considerations would be included in future reports and that the Council’s property portfolio was subject to re-evaluation each year by an external body, the Cabinet

RESOLVED

to note the treasury management performance for 2021/22 and recommend the report to Council for consideration.

To receive the Treasury Management 6 Month Performance Review.

By means of a report by the Chief Finance Officer (a copy of which was appended in the Minute Book), the Treasury Management 6 Month Performance Review was presented to the Panel.

Councillor Gray observed the strong financial position with plenty of reserves that the previous administration had left the Council in, therefore nothing of concern could be observed within the report.

Having welcomed the report, the Panel therefore

RESOLVED

that the Cabinet be recommended to endorse the recommendations contained within the report.