Decision details

Cabinet considered the head of finance’s report, being the treasury management mid-year monitoring report for 2022/23, being the first six months up to 30 September 2022. 

The Cabinet member for finance reported that income from cash investments was projected to be above budget by the year end.  This was due to increases in interest rates that were unexpected when the 2022/23 budget was set.  The report also set out performance against benchmarks for the first six months of the financial year.  The council had not borrowed during the first six months of the year and was unlikely to borrow during the remainder of the financial year. 

Cabinet noted that the Joint Audit and Governance Committee was satisfied that the treasury activities had been carried out in accordance with the treasury management strategy and policy. 

RECOMMENDED to Council to:

(a)       note the treasury management mid-year monitoring report 2022/23; and

(b)       note that Cabinet is satisfied that the treasury activities are carried out in accordance with the treasury management strategy and policy.