Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
To approve the Treasury Management Activity
Monitoring - Mid Year Review 2021-2022.
That Council is asked to note:
1. That a mid-year review of the Treasury Management Strategy Statement had been undertaken and the Council had operated within the limits and requirements approved in March 2021, however due to the reprofiling of some capital programmes the authorised limit and operational boundary for commercial activities for 2022-2023 is forecast to be slightly in excess of the best estimate included in the Treasury Management Strategy presented to Council on 3 March 2021. This would be reviewed as part of the 2022-2023 Treasury Management Strategy.
2. That revenue underspends of £899,000 for the General Revenue Account and £706,000 for the Housing Revenue Account (HRA) are forecast from treasury management activities in 2021-2022, arising as a result of re-phasing of the capital programme and lower interest rates forecast on borrowing.
The Cabinet notes:
1. That there had been no change to the UK’s credit rating and therefore the Director of Finance had not been required to use the delegated authority approved by Council on 17 July 2020 to amend the Annual Investment Strategy.
Report author: Sarah Hassell
Publication date: 18/11/2021
Date of decision: 17/11/2021
Decided at meeting: 17/11/2021 - Cabinet