Agenda item

Report of the Executive Director for Finance, Commercialisation & S151 officer seeking approval of the Council’s Treasury Management Strategy and Prudential Limits 2023/24 to 2026/27.

The Committee considered the report of the Executive Director Finance and Commercialisation (S151 Officer) seeking approval of the Council’s Treasury Management Strategy and Prudential Limits 2023/24 to 2026/27.

The Committee noted that the report highlighted the increasingly difficult economic climate being operated in, with record high levels of inflation and rising interest rates.  In addition, the Committee noted that ethical policies of investments were not taken into consideration it was about the Government market and where those investments were.

RESOLVED: to

(i)  approve the Council’s Treasury Management (TM) Strategy and Indicators for 2023/24 to 2026/27, as detailed in Appendix 1 of the report;

(ii)  note that at the time of writing this report it had been assumed that the budget proposals within the Medium Term Financial Strategy, Budget and Capital Programme 2023/24 to 2026/27 report, to be submitted to Council on the 22 February 2023, would be approved.  Should the recommendations change and have any impact on the Prudential Indicators this would be reported to Council on 22 February 2023;

(iii)  the Executive Director Finance and Commercialisation (EDFC) to report any amendments and in year revisions to the TM Strategy as part of quarterly financial and performance monitoring; and

(iv)  endorse the proposal to continue to explore an alternative Treasury Strategy to generate additional income that can support local services, whilst maintaining a prudent approach.