Issue - meetings

Report of 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 Prudential Indicators were met during the reporting period.

Over the course of the year, there is an overall Treasury Management forecast underspend of £1.214m compared to the approved budget.

Recommendations

The meeting is recommended:

1.1         To note the contents of this Treasury Management Mid-Year Review Report.

Resolved

(1)           That the Treasury Management Mid-Year Review Report be noted.

The Assistant Director of Finance submitted a report to present information on treasury management performance and compliance with treasury management policy for 2023-24 as required by the Treasury Management Code of Practice.

In introducing the report, the Portfolio Holder for Finance advised that 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 Prudential Indicators were met during the reporting period.

Over the course of the year, there was an overall Treasury Management forecast underspend of £1.214m compared to the approved budget.

Resolved

(1)           That the Treasury Management Mid-Year Review Report be noted.

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 Prudential Indicators were met during the reporting period.

Over the course of the year, there is an overall Treasury Management forecast underspend of £1.214m compared to the approved budget.

Recommendations

The meeting is recommended:

1.1         To note the contents of this Treasury Management Mid-Year Review Report.

Resolved
 

(1)       That the Treasury Management Mid-Year Review Report be noted.

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

In introducing the report, the Portfolio Holder for Finance advised that 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 Prudential Indicators were met during the reporting period. Over the course of the year, there was an overall Treasury Management forecast underspend of £1.214m compared to the approved budget.

In response to Committee questions in relation to subsidiary companies, the Portfolio Holder for Finance explained that Graven Hill was a commercial business and published its accounts accordingly. The Shareholder Committee was responsible for monitoring the performance of Graven Hill.

In response to Members’ questions relating to internal and external borrowing, the Head of Finance explained that internal borrowing was when existing funds to finance the cash flow of the council’s capital expenditure rather than borrowing externally immediately for the programme which saved the council on interest charges.

The Head of Finance undertook to provide a written response on questions regarding the monitoring and dividends of shares invested in non-treasury funds, maturity structure of borrowing and capital expenditure grants.

Resolved
 

(1)       That the Treasury Management Mid-Year Review Report be noted.