Decision Maker: Cabinet
Decision status: Recommmend Forward to Council
Is Key decision?: No
Is subject to call in?: No
Purpose: to consider the report and make recommendations to Council
Cabinet considered the head of finance’s report. This monitored performance of the council’s treasury management function for the first half of 2023/24. The report also updated on the prudential indicators for the remainder of the financial year.
The Joint Audit and Governance Committee had considered the report and was satisfied that the treasury activities had been carried out in accordance with the treasury management strategy and policy.
The Cabinet member for finance reported that the income received on investments was predicted to be above budget by approximately £2.7 million this year. This was due to higher than forecasted interest rates, bringing greater returns. The council was also operating with the prudential indicators.
RESOLVED: to note the treasury management 2023/24 mid-year monitoring report.
RECOMMENDED to Council to:
(a) note that Cabinet is satisfied that the treasury activities are carried out in accordance with the treasury management strategy and policy; and
(b) approve the treasury management 2023/24 mid-year monitoring report.
Report author: Simon Hewings
Publication date: 12/03/2024
Date of decision: 15/02/2024
Decided at meeting: 15/02/2024 - Cabinet
Accompanying Documents: