Issue - meetings

Report of the Assistant Director of Finance

Purpose of report

To receive information on treasury management performance and compliance with treasury management policy for 2023-24 as required by the Treasury Management Code of Practice.

All treasury management activities undertaken to date during the financial year 2023-24 complied with the CIPFA Code of Practice and the council’s approved Treasury Management Strategy, and all of the Treasury Management Prudential Indicators were met during the reporting period.

Recommendations

The meeting is recommended:

1.1         To note the contents of this Treasury Management report for Q3 2023/24.

Resolved

(1)       That the Treasury Management Report - Q3 2023/24 (December 2023)  report be noted.

The Committee considered a report from the Assistant Director of Finance that detailed treasury management performance and compliance with the treasury management policy for 2023-24, as required by the Treasury Management Code of Practice.

All treasury management activities undertaken to date during the 2023-24 financial year complied with the CIPFA Code of Practice and the council’s approved Treasury Management Strategy, and all of the Treasury Management Prudential Indicators had been met during the reporting period.

In response to questions from the Committee regarding non-treasury investments to subsidiaries and the status of dividends and repayments to the council, Councillor Nell advised that the Graven Hill Company had recently paid £9M as a result of sale of land at the development site. Detailed loan agreements were in place with the company, and the council would also shortly be receiving the first dividend payment in line with those agreements.

The Committee thanked officers for the hard work undertaken in relation to Treasury Management.

Resolved

(1)      That the Treasury Management Report - Q3 2023/24 (December 2023)  report be noted.