Issue - meetings

The report provides an update on treasury management activity undertaken during April to June of the current financial year.  The treasury management outturn position for 2022/23 is also included in this report.

The report of the Director of Finance and Transformation provided an update on treasury management activity undertaken during April to June of the current financial year. The treasury management outturn position for 2022/23 was also set out.

The report provided an assessment of the current economic situation and interest rate forecasts together with a commentary on investments derived from cash flow surpluses, core cash balances and other long term cash balances.  A full list of investments held on 30 June 2023 was set out in Annex 1 to the report.  Member’s attention was drawn to the Revenue and Capital Outturn report for 2022/23 as set out at Annex 4 which provided a summary of the investment performance. The combined performance of the Authority’s investments exceeded the revised estimate by £812,755, and £1.367m when compared to the 2022/23 original estimates mainly due to the level and speed at which Bank Rate had risen throughout 2022/23.

RECOMMENDED: That the following be commended to Council:

(1)      the action taken in respect of treasury management activity for April to June 2023 be endorsed;

(2)      the 2022/23 outturn position be noted; and

(3)      the Audit Committee’s appreciation of the work undertaken by officers in Treasury Management, be noted.

*Referred to Council