Issue - meetings

The purpose of this report is to provide a regular update to the Executive Member for Finance on treasury management activity for the first three quarters of the 2023/24 financial year and to provide the latest update of the prudential indicators.

Resolved:

                   i.        To note the Treasury Management activities up to the third quarter date ending 30th November 2023;

                  ii.        To note the Prudential Indicators set out at Annex A and note the compliance with all indicators.

Reason:    To ensure the continued effective operation and performance of the Council’s Treasury Management function and ensure that all Council treasury activity is prudent, affordable and sustainable and complies policies set.

It is a statutory duty for the Council to determine and keep under review the affordable borrowing limits. During the first three quarters of the year to 30th November 2023, the Council has operated within the treasury and prudential indicators set out in the Council’s Treasury Management Strategy Statement for 2023/24.

There are no policy changes to the Treasury Management Strategy Statement for members to agree and approve; the details in this report update the Treasury Management position and Prudential Indicators in the light of the updated economic position and budgetary changes already approved.

The Chief Finance Officer asked that the Executive note the treasury management activities and confirmed that its report would be taken to the Council’s Audit and Governance Committee for consideration.

Resolved:

                   i.        To note the Treasury Management activities up to the third quarter date ending 30th November 2023;

                  ii.        To note the Prudential Indicators set out at Annex A and note the compliance with all indicators.

Reason:    To ensure the continued effective operation and performance of the Council’s Treasury Management function and ensure that all Council treasury activity is prudent, affordable and sustainable and complies policies set.

It is a statutory duty for the Council to determine and keep under review the affordable borrowing limits. During the first three quarters of the year to 30th November 2023, the Council has operated within the treasury and prudential indicators set out in the Council’s Treasury Management Strategy Statement for 2023/24.

There are no policy changes to the Treasury Management Strategy Statement for members to agree and approve; the details in this report update the Treasury Management position and Prudential Indicators in the light of the updated economic position and budgetary changes already approved.