Issue - meetings
Treasury Management Strategy 2023/24, Treasury Management Policy Statement, Practices and Schedules 2023-2026, Treasury Management Quarter 3 Update 2022/23
Meeting: 25/01/2023 - Governance and Audit Committee (Item 51)
Additional documents:
- Enc. 1 - Draft TM Strategy 2023-24, item 51
PDF 500 KB
- Enc. 2 - Draft TM Policy Statement, item 51
PDF 107 KB
- Enc. 3 - Draft TM Practices & Schedules part 1, item 51
PDF 158 KB
- Enc. 4 - Draft TM Practices & Schedules part 2, item 51
PDF 399 KB
- Enc. 5 - Investment portfolio as at 31-12-22, item 51
PDF 30 KB
- Enc. 6 - Long term borrowing as at 31-12-22, item 51
PDF 86 KB
- Enc. 7 - Short term borrowing as at 31-12-22, item 51
PDF 18 KB
- Webcast for Treasury Management Strategy 2023/24, Treasury Management Policy Statement, Practices and Schedules 2023-2026, Treasury Management Quarter 3 Update 2022/23
Decision:
(a) That having reviewed the draft Treasury Management Strategy 2023/24 and accompanying documents, the Committee has no specific issues to be reported to Cabinet on 23 February 2023; and
(b) That the Treasury Management 2022/23 quarterly update be noted.
Minutes:
The Strategic Finance Manager presented the draft Treasury Management Strategy 2023/24 and associated documents for review and recommendation to Cabinet, along with a quarterly update on Treasury Management activities for 2022/23 for information.
The officer reported no significant changes to the strategy and highlighted key areas on the economic context, the Council’s anticipated treasury position with focus on borrowing and a continuation of the investment strategy. The quarterly update for 2022/23 reported the position on investments at December 2022 along with long and short term borrowing portfolios.
In response to a question from Allan Rainford, officers advised that whilst the Public Works Loans Board (PWLB) was the preferred borrowing option, the potential for issuing Bonds would be explored in conjunction with advice from Arlingclose. It was also clarified that no further changes were expected to the team structure set out in the Practice Schedules.
Officers agreed to look into Rev Brian Harvey’s suggestion that reference to the Climate Change Strategy be included in section 1.03 of the Treasury Management Policy Statement, in addition to that already included in the Strategy.
Following a query by Councillor Bernie Attridge on clause 3 of the Treasury Management Code referenced in the Practical Guide for Local Authorities’ Audit Committees, officers agreed to share a written response to clarify the roles of this Committee and Cabinet on treasury management reporting.
The recommendations were moved and seconded by Allan Rainford and Councillor Bernie Attridge.
RESOLVED:
(a) That having reviewed the draft Treasury Management Strategy 2023/24 and accompanying documents, the Committee has no specific issues to be reported to Cabinet on 23 February 2023; and
(b) That the Treasury Management 2022/23 quarterly update be noted.