Issue - meetings

RESOLVED:

That the Treasury Management Mid-Year Report 2023/24 be approved.

The Corporate Finance Manager presented the draft Treasury Management Mid-Year Review for 2023/24 which was appended to the report. He advised that, as required by the Council’s Financial Procedure Rules, the Mid-Year Report was  reviewed by the Governance and Audit Committee on 22November and Cabinet on 19December 2023 and no significant issues had been raised.  The Corporate Finance Manager referred to the key points as summarised in the covering report.

Councillor Mike Peers referred to the reference to Lender Option Borrower Option (LOBO) as detailed on page 37, and cross-referenced to the information on page 47 (paragraphs 4.04 and 4.06) and sought clarification on whether the interest was fixed or variable and the arrangements around repayment or borrowing.  The Corporate Finance Manager and Strategic Finance Manager responded to the questions and supplementary questions raised by Councillor Peers.

The recommendation in the report was moved by Councillor Bernie Attridge and seconded by Councillor Paul Johnson.

RESOLVED:

That the Treasury Management Mid-Year Report 2023/24 be approved.