Issue - meetings
ANNUAL TREASURY MANAGEMENT REPORT 2022/23
Meeting: 19/09/2023 - Cabinet (Item 9)
9 ANNUAL TREASURY MANAGEMENT REPORT 2022/23 PDF 125 KB
To consider a report by Councillor Gwyneth Ellis, Lead Member for Finance, Performance and Strategic Assets (copy enclosed) updating Cabinet on the performance of the treasury management function and to demonstrate compliance with treasury limits and Prudential Indicators during 2022/23.
Additional documents:
- TREASURY MANAGEMENT REPORT - APPENDIX 1, item 9
PDF 222 KB
- TREASURY MANAGEMENT REPORT - APPENDIX 2 WBIA, item 9
PDF 92 KB
- Webcast for ANNUAL TREASURY MANAGEMENT REPORT 2022/23
Decision:
RESOLVED that Cabinet –
(a) note the performance of the Council’s
Treasury Management function during 2022/23 and its compliance with the
required Prudential Indicators as reported in the Annual Treasury Management
Report 2022/23 (Appendix 1 to the report), and
(b) confirms it has read, understood and taken
account of the Wellbeing Impact Assessment (Appendix 2 to the report) as part
of its consideration.
Minutes:
The
Head of Finance and Audit presented the report updating Cabinet on the
performance of the treasury management function and demonstrating compliance with
treasury limits and Prudential Indicators during 2022/23.
The
Head of Finance and Audit highlighted the main points in terms of borrowing and
investment activity. There had been a
number of maturing loans and £30m of new borrowing, that amount would
significantly increase the following year when borrowing on behalf of the Welsh
Government who would be funding the repayments for the coastal defence
schemes. Investment activity was all
short term and related to cash waiting for expenditure which was borrowed just
before it was needed. Members were also
guided through those prudential indicators detailed in Annex B confirming
appropriate ratios of financing costs and borrowing levels within limits. The ratio of financing costs to net revenue
stream was just below 7% which would likely change in future given the
Council’s future borrowing commitments and the expected low level of
settlements going forward.
Cabinet
noted that Governance and Audit Committee monitored the treasury management
function and had scrutinised the report.
The Head of Finance provided a summary of the matters raised during that
debate. He also reported on a training
session in the autumn aimed specifically for Governance and Audit Committee on
treasury management, but all members were encouraged to attend.
RESOLVED that Cabinet –
(a) note the performance of the Council’s
Treasury Management function during 2022/23 and its compliance with the
required Prudential Indicators as reported in the Annual Treasury Management
Report 2022/23 (Appendix 1 to the report), and
(b) confirms it has read, understood and taken
account of the Wellbeing Impact Assessment (Appendix 2 to the report) as part
of its consideration.