Issue - meetings
Treasury Management Update and Mid-Year Review
Meeting: 25/10/2022 - Council (Item 74)
74 Treasury Management Update and Mid-Year Review 
PDF 100 KB
Item AU 22/40 referred from Audit Committee of 26 September 2022 and Item AU 22/28 referred from Audit Committee of 25 July 2022.
Additional documents:
- Recommendation AU 22-28 from Audit Committee of 27 July 2022, item 74
PDF 102 KB
- Report of Director of Finance and Transformation, item 74
PDF 263 KB
- Annex 1 - Investment Summary 31 August 2022, item 74
PDF 98 KB
- Annex 2 - Lending list 31 August 2022, item 74
PDF 100 KB
- Annex 3 - Benchmarking June 2022, item 74
PDF 43 KB
- Annex 4 - Prudential and treasury indicators, item 74
PDF 104 KB
- Annex 5 - Risk parameters, item 74
PDF 129 KB
Minutes:
Item AU 22/40 referred from Audit Committee of 26 September 2022.
Recommendation AU 22/28 from the Audit Committee of 25 July 2022 was attached for information.
RESOLVED: That
(1) the action taken in respect of treasury management activity for the period April to August 2022 be endorsed; and
(2) the existing parameters intended to limit the Borough Council’s exposure to investment risks, as set out at Annex 5 to the report to the Audit Committee, be retained.
Meeting: 26/09/2022 - Audit Committee (Item 40)
40 Treasury Management Update and Mid-Year Review PDF 263 KB
The report provides an update on treasury management activity undertaken during April to August of the current financial year. A mid-year review of the Treasury Management and Annual Investment Strategy for 2022/23 is also included in this report.
Additional documents:
- Annex 1 - Investment Summary 31 August 2022, item 40
PDF 98 KB
- Annex 2 - Lending list 31 August 2022, item 40
PDF 100 KB
- Annex 3 - Benchmarking June 2022, item 40
PDF 43 KB
- Annex 4 - Prudential and treasury indicators, item 40
PDF 104 KB
- Annex 5 - Risk parameters, item 40
PDF 129 KB
Minutes:
The report of the Director of Finance and Transformation provided an update on treasury management activity undertaken during April to August of the current financial year. A mid-year review of the Treasury Management and Annual Investment Strategy for 2022/23 was also included in the report.
Investment income at the end of August 2022 (month five of the financial year) from cash flow surpluses, core cash investments, multi-asset diversified income and property funds was expected to outperform the original budget estimates by upward of £350,000. However, this was to be balanced against any downturn in the economy where investment values might fall significantly. It was noted that economic growth forecasts were expected to fall further given the current global economic factors and the cost of living crisis.
The parameters to limit the Borough Council’s exposure to investment risks were summarised in Annex 5. There were no changes to the current approved risk parameters proposed at this time.
RECOMMENDED: That the following be commended to Council
(1) the action taken in respect of treasury management activity for the period April to August 2022 be endorsed; and
(2) the existing parameters intended to limit the Council’s exposure to investment risks, as set out at Annex 5 to the report, be retained.
*Referred to Council