Decision details

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 due to higher than expected interest rates, bringing greater returns.  The council was also operating with the prudential indicators, and there had been no need for the council to borrow funds during that period. 

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.