Issue - meetings

A report providing a summary of the treasury activities to the end of December 2023 and covering the actual position to date on the Prudential Indicators in accordance with the Prudential Code.

Cabinet:

1)    NOTED the Quarter 3 position on treasury activity for 2023-24;

2)    NOTED the Quarter 3 position on Prudential Indicators for 2023-24.

The Portfolio Holder for Corporate Finance, Property and Resources introduced the report and moved the recommendations. The Leader seconded the motion. The purpose of the report was to provide a summary of the treasury activities to the end of December 2023 and cover the actual position to date on the Prudential Indicators, in accordance with the Prudential Code.

The Portfolio Holder thanked Officers for their hard work on managing the treasury management position of the Council.

Cabinet:

1)    NOTED the Quarter 3 position on treasury activity for 2023/24;

2)    NOTED the Quarter 3 position on Prudential Indicators for 2023/24.

Reasons for the Recommendations:

The Prudential Code requires the Council to monitor and report performance on Treasury Management activities at least quarterly. As a minimum full Council need to receive an annual report on the strategy and plan for the coming financial year, a mid year review and an annual report on performance of the treasury management function. In addition monitoring reports should be received at least quarterly alongside revenue and capital monitoring by the cabinet as the body delegated responsibility for treasury management functions.

To facilitate the decision making process and support capital investment decisions the Prudential Code requires the Council to agree and monitor a minimum number of prudential indicators.