Decision Maker: Joint Audit and Governance Committee, Cabinet, Council
Decision status: Recommmend Forward to Council
Is Key decision?: No
Is subject to call in?: No
Purpose: to review treasury management performance
Cabinet considered the head of finance’s report on the treasury outturn for the 2021/22 financial year.
The Joint Audit and Governance Committee had considered the report and had recommended to Cabinet that the treasury activities in 2021/22 had been carried out in accordance with the council’s treasury management strategy and policy.
The Cabinet member for finance reported that rising interest rates had increased investment income towards the end of the financial year. Performance of the internally managed portfolio exceeded benchmarks, whilst that of the externally managed portfolio was modestly below benchmarks. There had been no breaches of the counterparty limits or prudential indicators during the year.
Cabinet welcomed the report and thanked the Joint Audit and Governance Committee and officers for their work.
(a) note that Joint Audit and Governance Committee is satisfied that the treasury activities are carried out in accordance with the treasury management strategy and policy;
RECOMMENDED to Council to:
(b) approve the treasury management outturn report for 2021/22;
(c) approve the actual 2021/22 prudential indicators within the report.
Report author: Donna Ross
Publication date: 01/11/2022
Date of decision: 29/09/2022
Decided at meeting: 29/09/2022 - Cabinet