Issue - meetings

RESOLVED

That the Annual Treasury Management Report for 2022/23 be approved.

The Corporate Finance Manager presented the Treasury Management Annual Report 2022/23 for approval. He provided background information and reported on the key points as detailed in the covering report. He advised that as required by the Council’s Financial Procedure Rules, the Annual Report had been reviewed by the Governance and Audit Committee on 26 July 2023 and Cabinet on 19 September 2023. The Treasury Management Annual Report was appended to the report for consideration.

Councillor Mike Peers referred to section 3.01 in the Annual Report and asked for an explanation around the Public Works Loan Board (PLWB) Certainty Rate, and PWLB loans. He also commented on the information provided in the table in section 3.02 regarding borrowing activity. The Corporate Finance Manager and Strategic Finance Manager responded to the comments and questions raised.

Councillor Paul Johnson spoke in support of the report and thanked the Corporate Finance Manager and his team for their work.

Officers responded to the questions raised by Councillor Coggins-Cogan concerning other long-term liabilities shown in the table in section 3.02, loans to NEW Homes, information relating to Arlingclose Limited (the Council’s treasury management advisors) in section 4.04 and Section 114 Notices, and the CIPFA Prudential Code update. The Corporate Finance Manager also responded to the further questions raised by Councillor Alasdair Ibbotson on the loans to NEW Homes and explained the arrangements around repayment.

The recommendation in the report was moved by Councillor Glyn Banks and seconded by Councillor Johnson.

RESOLVED

That the Annual Treasury Management Report for 2022/23 be approved.