Issue - meetings
Treasury Management 2024/25 Strategy and Q3 Update 2023/24
Meeting: 24/01/2024 - Governance and Audit Committee (Item 57)
57 Treasury Management 2024/25 Strategy and Q3 Update 2023/24 
PDF 164 KB
Additional documents:
- Enc. 1 - Draft Strategy 2024/25, item 57
PDF 504 KB
- Enc. 2 - Investment portfolio at 31-12-23, item 57
PDF 25 KB
- Enc. 3 - Long-term borrowing at 31-12-23, item 57
PDF 88 KB
- Enc. 4 - Short-term borrowing at 31-12-23, item 57
PDF 21 KB
- Webcast for Treasury Management 2024/25 Strategy and Q3 Update 2023/24
Decision:
(a) That having reviewed the draft Treasury Management Strategy 2024/25 and accompanying documents, the Committee has no specific issues to be reported to Cabinet on 20 February 2024; and
(b) That the Treasury Management 2023/24 quarterly update be noted.
Minutes:
The Strategic Finance Manager presented the draft Treasury Management Strategy 2024/25 and associated documents for review and recommendation to Cabinet, along with a quarterly update on Treasury Management activities in 2023/24 for information.
Whilst there were no significant changes to the strategy, key areas were highlighted on economic context, local context and a continuation in borrowing and investment strategies. The quarterly update reported the position on investments at the end of December 2023 along with long and short term borrowing portfolios.
On investment counterparty limits, the Chair spoke about the risk around section 114 notices and suggested some wording to give assurance that the financial position of other authorities was being monitored. The Strategic Finance Manager said that this was covered in the mid-year report, and he confirmed that local authority investments were subject to constant review and guidance from Arlingclose Ltd. On interest rates, he provided estimates of interest rate outcomes compared with projections which had helped the in-year position.
In response to the Chair’s question on maintaining resources to support the treasury management function, the Corporate Finance Manager spoke about his role in ensuring adequate financial arrangements across the Council and advised that no specific changes in the team had been identified to date as part of the budget process for 2024/25.
The recommendations were moved and seconded by Councillors Ted Palmer and Bernie Attridge.
RESOLVED:
(a) That having reviewed the draft Treasury Management Strategy 2024/25 and accompanying documents, the Committee has no specific issues to be reported to Cabinet on 20 February 2024; and
(b) That the Treasury Management 2023/24 quarterly update be noted.