Issue - meetings

To receive a report on the Treasury management Strategy Mid-Year Review Report 2023/24 from the Deputy Chief Executive (S151) Officer.

The Cabinet Member for Finance outlined the contents of the report with particular reference to the following:

·         Changes in the Regulations required more regular reports to be presented to the decision makers of local authorities.

·         Higher returns had been achieved due to an increase in interest rates and a slippage on the Capital Programme.

·         No additional borrowing had been required.

·         An economic summary had been provided, showing the deposits held at the end of the quarter and the yields being achieved.

·         The report confirmed that the lending criteria remained appropriate.

The report was presented to Cabinet on the 14 November 2023 and had made the recommendation to Full Council.

THAT the recommendation of the Cabinet as set out in Minute 67 to be APPROVED

A) That a continuation of the current policy outlined at paragraphs 4.0 – 4.5 be approved; and

b) The changes to the Capital Financing Requirement, Operational Boundaries and Authorised Limits for the current year at paragraphs 5.4 – 5.5 be approved.

Cllr J Buczkowski MOVED, seconded by The Leader of the Council Cllr L Taylor

Following discussion and upon a vote being taken the MOTION was declared to have been CARRIED.

The Cabinet were presented a report* which presented the Treasury Management Strategy and Annual Investment Strategy for 2023/24.

The following was discussed:

-        This report provided the outcomes of the capital programme and had shown that the Council were under borrowed, using internal balances where possible.

RESOLVED: That Cabinet recommends to Full Council

That the proposed Treasury Management Strategy and Annual Investment Strategy for 2023/24, including the prudential indicators for the next 3 years and the Minimum Revenue Provision Statement (Appendix 1), be approved.

(Proposed from the Chair)

Reason for Decision: As stated in the report.

Note: *report previously circulated and attached to the minutes