To receive Report No.125/2022 from the Portfolio Holder for Finance, Governance and Performance, Change and Transformation.

RESOLVED

That Cabinet:

1.    NOTED the actual 2021/22 prudential indicators within the report.

2.    NOTED the treasury management stewardship for 2021/22 was in compliance with the treasury management strategy.

Report No.125/2022 was introduced by Councillor K Payne, Portfolio Holder for Finance, Governance and Performance, Change and Transformation.

The report set the Treasury Management Strategy for 2021/22 linked to the Council’s Budget, Medium Term Financial Plan and Capital Plans. It was inextricably linked to delivering the Council’s aims and objectives.

The Treasury Management report was approved by Full Council in February 2022. The Council continued to deliver a low-risk strategy and also confirmed that the Council did not undertake any external borrowing or repay any external debt as there was not a business case to do so during 2021-22.

The Council had invested with institutions as determined by the revised creditworthiness criteria approved by the Section 151 Officer.

Councillor Payne also mentioned to Members that the Council made a positive return on investment of 0.38% compared to SONIA (Sterling Overnight Index Average) rate of 0.34%.

It was proposed by Councillor K Payne that the recommendations of report No. 125/2022 be agreed, this was seconded and upon being put to the vote the motion was unanimously agreed.

RESOLVED

That Cabinet:

1.    NOTED the actual 2021/22 prudential indicators within the report

NOTED the treasury management stewardship for 2021/22 was in compliance with the treasury management strategy.