Cabinet considered the head of finance’s report on the treasury management outturn for 2022/23.
The Cabinet member for finance highlighted the performance of the treasury management function during the year, which had exceeded expectations due to high interest rates bringing increased income to the council. He reported that the Joint Audit and Governance Committee had also considered the report and was satisfied that the treasury activities have been carried out in accordance with the treasury management strategy and policy.
In answer to a question by members, the Cabinet member for finance reported that this council was not putting itself at risk by loaning funds to other councils. If the council lent funds, the other council was legally obliged to settle its debts. This arrangement was also backed by the government.
RESOLVED:
(a) to note the treasury management outturn report 2022/23;
(b) that Cabinet is satisfied that the treasury activities have been carried out in accordance with the treasury management strategy and policy;
RECOMMENDED to Council to:
(c) to approve the treasury management outturn report 2022/23 to Cabinet on 10 November 2023; and
(d) approve the actual 2022/23 prudential indicators within the report.