Issue - meetings

This report updates Members on Treasury activity for the first half of the financial year 2023-24.

Members are asked to note that the report has also been subject to consideration and review by the Audit & Standards Advisory Committee on Wednesday 6 December 2023.

Cabinet RESOLVED

(1)    To note the 2023-24 Mid-Year Treasury report and approve its referral on to Full Council.

(2)    To note that the Council had been fully compliant with the prudential indicators set as part of the annual strategy.

Eligible for call-in: No – referred to Full Council

In Councillor Tatler’s absence (as Deputy Leader and Cabinet member for Finance, Resources & Reform), Councillor Muhammed Butt (Leader of the Council) presented a report updating Members on Treasury Management activity for the first half of the financial year 2023-24 which included the Council’s investment and borrowing activities and strategy.

Members welcomed the report and prudent approach being delivered in terms of the Council’s Treasury Management activity to support delivery of the Council’s wider ambitions and priorities given the challenging economic context under which the Treasury Management Strategy was having to be delivered. Having noted the assurance provided that the Council had fully complied with the Treasury Management Indicators set as part of the annual strategy for 2023 - 24, as detailed within Appendix 1 of the report Cabinet RESOLVED to note the 2023-24 Mid-Year Treasury report and approve it being referred on to Council, in compliance with CIPFA’s Code of Practice on Treasury Management (the Code).