Issue - meetings

Report number:     CAB/WS/22/067

Portfolio holder: Councillor Sarah Broughton

Chair of the Committee: Councillor Ian Houlder

Lead officer: Rachael Mann

Recommended to Council:

(13 December 2022)

That the Treasury Management Report (September 2022), as contained in Report number FRS/WS/22/005, be approved.

(Report number CAB/WS/22/067)

The Cabinet considered this report, which was recommending to Council, approval of the Treasury Management Report for the period 1 April 2022 to 30 September 2022. 

Councillor Sarah Broughton, Portfolio Holder for Resources and Property, drew relevant issues to the attention of the Cabinet, including that the total amount invested at 30 September 2022 was £78,000,000.

External borrowing as at 30 September 2022 was £13,875,000, a reduction of £125,000 from 1 April 2022, which related to the repayment plan for the recent PWLB £10m, 40 year loan, with the Council’s level of internal borrowing increasing slightly to £41,699,661, as at 30 September 2022.  Overall borrowing, weighted towards internal borrowing was expected to increase over the full financial year.

The 2022 to 2023 Annual Treasury Management and Investment Strategy set out the council’s projections for the current financial year.  The budget for investment income for 2022 to 2023 was £45,000, which was based on a 0.25% target interest rate of return on investments.

Recommended to Council (13 December 2022):

That the Treasury Management Report (September 2022), as contained in Report number FRS/WS/22/005, be approved.