Issue - meetings

This report gives and overview of treasury management activity since 1 April 2021 and presents a review of the Treasury Strategy approved by Council on 18 February 2021.

Background:

This report presented the mid-year review of the Treasury Management Strategy 2021/2022, which had been approved by Full Council alongside the Capital and Revenue Budgets on 18 February 2021.

The report included an economic update for the first part of 2021/2022 and reviews of: the Treasury Management Strategy Statement and Annual Investment Strategy; the Council’s Investment Portfolio and Borrowing Strategy; any debt rescheduling undertaken and compliance with Treasury and Prudential limits.

The report had also been considered by the Audit Committee on 23 September 2021 and by the Cabinet on 28 September 2021. The comments and decisions of this Committee and of Cabinet were set out in paragraphs 9 and 10 to the report.

The Leader of the Council, supported by the Deputy Leader and Portfolio Holder for Housing and Community Services, Councillor Doe, proposed the recommendations set out in the report.

Decision:

The Council noted the report.

Background:

This report presented the mid-year review of the Treasury Management Strategy 2021/2022, which had been approved by Full Council alongside the Capital and Revenue Budgets on 18 February 2021. This report had also been considered by the Audit Committee on 23 September 2021 prior to final consideration at Full Council on 7 October 2020.  The minutes summarising the discussion at Audit Committee were provided to the Cabinet in an addendum report.

The report included an economic update for the first part of 2021/2022 and reviews of: the Treasury Management Strategy Statement and Annual Investment Strategy; the Council’s Investment Portfolio and Borrowing Strategy; any debt rescheduling undertaken and compliance with Treasury and Prudential limits.

Reasons:

In accordance with the Chartered Institute of Public Finance Accountancy’s (CIPFA) Code of Practice for Treasury Management, there should be a review of the strategy at least half yearly.