Decision details

To review the Council’s Treasury Management activity for the first six months of 2022/23 and to provide members with an update on matters pertinent to future updates to the Council’s Treasury Management Strategy.

Members considered the Treasury Management Strategy Statement and Annual Investment Strategy Mid-Year Review 2022/23 report presented by Councillor Boden.

Councillor Tierney said when a council has gone wrong and finances and borrowing are out of control, then people focus on that but when a council is well managed and finances are stable, then we should also recognise the good work done by people who know what they are doing so he paid tribute to officers and Councillor Boden for their sound financial decisions and he thanked all involved in the work behind this report. Councillor Boden thanked Councillor Tierney, stating that the day-to-day operational decisions about where the Council places its funds are made entirely by officers and all credit is due to them. However, what members and officers have done collectively is to ensure the Council maintains as much cash balance as possible and that means we are able to earn that much more in investment income. 

Cabinet AGREED to note the report.