Agenda item

[To approve the Treasury Management Activity Monitoring - Mid Year Review 2021-2022]

1.    That it be noted, 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 it be noted, the revenue underspends of £899,000 for the General Revenue Account and £706,000 for the Housing Revenue Account (HRA) were 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 Leader of the Council, Councillor Ian Brookfield presented the report on

Treasury Management Activity Monitoring - Mid Year Review 2021-2022 for approval. The report provided Council with a monitoring and progress report on treasury management activity for the second quarter of 2021-2022 as part of the mid-year review, in line with the Prudential Indicators approved by Council in March 2021.

The Leader of the Council, Councillor Ian Brookfield noted that the Council had not undertook any new borrowing in the last two financial years.

The Leader of the Council, Councillor Ian Brookfield proposed the recommendations and Councillor Stephen Simkins seconded the recommendations.

The report was debated by Council.

Resolved:

1. That it be noted 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 it be noted, the revenue underspends of £899,000 for the General Revenue Account and £706,000 for the Housing Revenue Account (HRA) were forecast from treasury management activities in 2021-2022, arising as a result of rephasing of the capital programme and lower interest rates forecast on borrowing.