Issue - meetings

Report number:     CAB/WS/23/007

Portfolio holder: Councillor Sarah Broughton

Chair of the Committee: Councillor Ian Houlder

Lead officer: Rachael Mann

Recommended to Council:

(21 February 2023)

That:

1.           The Treasury Management Strategy Statement 2023 to 2024, as set out in Appendix 1 to Report number FRS/WS/23/002, be approved.

2.           The Treasury Management Code of Practice, as set out in Appendix 2 to Report number FRS/WS/23/002, be approved.

(Report number CAB/WS/23/007)

The Cabinet considered this report, which was recommending to Council, the approval of the Financial Resilience – Strategy Statement 2023 to 2024 and the Treasury Management Code of Practice.

Councillor Sarah Broughton, Portfolio Holder for Resources and Property, drew relevant issues to the attention of the Cabinet, including that the Chartered Institute of Public Finance and Accountancy’s (CIPFA) Treasury Management Code of Practice required that, prior to the start of the financial year, the Council should formally approve a Treasury Management Policy Statement and Investment Strategy, setting out the Council’s treasury management policy and strategy for the forthcoming year.

The Treasury Management Strategy Statement 2023 to 2024 was attached as Appendix 1 to Report number FRS/WS/23/002 and the Treasury Management Code of Practice attached as Appendix 2.  The report also included additional supporting information on treasury advisors; borrowing strategy; investment strategy counterparty ratings and interest rate projections.

Councillor Sarah Broughton, Portfolio Holder for Resources and Property, also wished to thank the Financial Resilience Sub-Committee and the Performance and Audit Scrutiny Committee for their role in this process.

Recommended to Council (21 February 2023):

That:

1.           The Treasury Management Strategy Statement 2023 to 2024, as set out in Appendix 1 to Report number FRS/WS/23/002, be approved.

2.           The Treasury Management Code of Practice, as set out in Appendix 2 to Report number FRS/WS/23/002, be approved.