Issue - meetings

(a)       That the draft Treasury Management Annual Report 2021/22 be noted, with no matters to be drawn to the attention of Cabinet in September; and

(b)       That the Treasury Management 2022/23 first quarter update be noted.

The Strategic Finance Manager presented the draft Treasury Management Annual Report 2021/22 for review and recommendation to Cabinet.  The Quarter 1 update on matters relating to the Treasury Management Policy, Strategy and Practices 2022/23 was also shared for information, along with the reporting cycle.  In accordance with the usual process, a training session for all Members would be scheduled for December 2022 prior to approving the Treasury Management Strategy for 2023/24.

An overview was provided of key sections of the Annual Report including the impact of economic issues during the period.  The first quarterly update for 2022/23 provided an update on investments and borrowing activity with no breaches of the Treasury Management Strategy reported.

Allan Rainford welcomed the approach to minimising risk on investments and was provided with information on the investment strategy which prioritised liquidity and security whilst diversifying and spreading risk, in conjunction with advice from Arlingclose.

In response to a question from the Chair, it was explained that other councils across Wales took a similar approach to treasury management with a focus on short-term borrowing.

The recommendations were moved by Councillor Bernie Attridge and seconded by Councillor Linda Thomas.

RESOLVED:

(a)       That the draft Treasury Management Annual Report 2021/22 be noted, with no matters to be drawn to the attention of Cabinet in September; and

(b)       That the Treasury Management 2022/23 first quarter update be noted.