Issue - meetings

To receive a report from the Director of Finance updating members on Treasury Management activity and confirming that the Council has complied with its Prudential Indicators for 2021/22.

Members are asked to note that this report was received and noted by the Audit & Standards Advisory Committee on 7 June 2022 and Cabinet on 18 July 2022. It has been forwarded to Council in compliance with CIPFAs Code of Practice on Treasury Management.

Council RESOLVED

(1)    To note and approve, following its consideration by Audit & Standards Advisory Committee on 7 June 2022 and Cabinet on 18 July 2022, the 2021/22 Treasury Management outturn report in compliance with CIPFA’s Code of Practice on Treasury Management (the Code).

(2)    To note that for 2021/22 the Council had complied with its Prudential Indicators which were approved by Full Council on 22 February 2021 as part of the Council’s Treasury Management Strategy Statement and Capital Strategy Statement.

The Mayor then invited Councillor Mili Patel, as Deputy Leader And Cabinet Member for Finance, Resources and Reform Leader, to introduce a report from the Corporate Director of Finance and Resources updating members on the Council’s Treasury Management Activity during 2021-22.  In introducing the report the Deputy Leader felt it important to recognise the significant economic impact and challenges created in relation to delivery of the Council’s Treasury Management Strategy created as a result of the ongoing recovery from the pandemic, war in Ukraine and higher levels of inflation and interest rates, which had been reflected with the outturn report.  In addition, members attention was also drawn to the changes made to CIPFA’S Prudential Code for Capital Finance and Treasury Management, which it was noted were due to be introduced during the 2023-24 financial year.

As no other members had indicated they wished to speak and Councillor Mili Patel had confirmed she did not need to exercise her right of reply the Mayor then put the recommendations in the report to the vote and they were unanimously declared CARRIED.

Council therefore RESOLVED:

(1)    To note and approve, following its consideration by Audit & Standards Advisory Committee on 7 June 2022 and Cabinet on 18 July 2022, the 2021/22 Treasury Management outturn report in compliance with CIPFA’s Code of Practice on Treasury Management (the Code).

(2)    To note that for 2021/22 the Council had complied with its Prudential Indicators which were approved by Full Council on 22 February 2021 as part of the Council’s Treasury Management Strategy Statement and Capital Strategy Statement