Issue - meetings

To submit a report by the Director of Function (Resources)/Section 151 Officer.

It was resolved to accept the Treasury Management Mid-Year Review Report for 2021/22 and to forward the report to the Full Council.

The report of the Director of Function (Resources)/Section 151 Officer incorporating the Treasury Management Mid-Year Review was presented for the Executive’s consideration.

Councillor Robin Williams, Portfolio Member for Finance reported that the mid-year review forms part of the treasury management reporting requirements under the CIPFA Code of Practice and is in accordance with the Council’s Scheme of Delegation. The report was scrutinised by the Governance and Audit Committee at its meeting in December 2021.

The Director of Function (Resources)/Section 151 Officer advised that the report sets out Treasury Management activity during the first half of 2021/22 and confirms that an underspend in the capital programme has resulted in some changes to the financing of the programme with borrowing having been revised downwards as a result. Borrowing activity is expected to remain within the operational boundary. Improved interest rates mean that the Council has been seeking to optimise the return on investments while having regard to security and liquidity and the Council’s risk appetite. No amendments to the strategy are envisaged at this point in time.

It was resolved to accept the Treasury Management Mid-Year Review Report for 2021/22 and to forward the report to the Full Council.