Issue - meetings

To provide an update on the Treasury Management position for Q1 2022/23 (report of the Interim Treasury and Investments Manager (PSPSL) enclosed).

Consideration was given to the report of the Interim Treasury and Investments Manager (PSPSL) which provided an update on the Treasury Management position for Q1 2022/23.

The Q1 Treasury Management Report was attached at Appendix A, and covered the following areas:

·         An economic update for the first quarter of the 2022-23 financial year;

·         The outlook for the remainder of the financial year along with interest rate forecasts;

·         A review of the Treasury Management Strategy Statement and Annual Investment Strategy;

·         A review of the Council’s investment portfolio for 2022-23;

·         A review of the Council’s borrowing strategy for 2022-23;

·         Debt rescheduling; and

·         Compliance with Treasury and Prudential indicators.

The report referred to a key element of the Council’s Governance Framework and represented an important contribution to the evidence trail in support of the Annual Governance Statement 2022/23.

Members were advised that Treasury Management Reports would now be provided on a quarterly basis.

Members considered the report and the following points were raised:

·         In response to members questioning whether the Council’s borrowings of £67.456million at a rate of 3.48% (Section 5 – Borrowing) was a fixed rate, it was confirmed that it was.  Members requested that this be specified in future reports.

AGREED:

That the information detailed within the report be noted.