Cabinet had before it a report * from the Deputy Chief Executive (S151) Officer on Annual Treasury outturn report 23/24.
The Cabinet Member for Finance outlined the contents of the report with particular reference to the following:
· Treasury Management was a specialist area that required a number of important indicators to be approved.
· It had shown the level of capital expenditure for the year of 2023/ 2024 and how it had been funded, either through existing resources or through increasing the financial requirement.
· Investments conformed to the approved strategy and there were no liquidity difficulties. Indeed, healthy returns from investments were achieved averaging 5.25%, some way ahead of expectation.
· All loans to 3Rivers were cleared during the year 2023/2024 through a combination of repayments via the sale of assets, or through the final impairment of £1.483m. The company had no outstanding debt, either with the MDDC Council or any other creditor.
RESOLVED that:
1. Cabinet NOTED the treasury activities for the year.
2. Cabinet RECOMMEND TO FULL COUNCIL to approve the actual 2023/24 prudential and treasury indicators in this report.
(Proposed by Cllr J Buczkowski seconded by Cllr S Clist)
Note: *Report previously circulated