Issue - meetings

The report sets out the Quarter two performance for 2022/23.

The Assistant Chief Financial Officer presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'F' to these Minutes in the Minute Book.

The Committee was reminded of the requirement under the Chartered Institute of Public Finance and Accountancy (CIPFA) Treasury Management Code of Practice that regular monitoring of the Treasury Management function was reported to Members.

It was explained that Council were required to approve any changes to the prudential indicators based on a recommendation from the Audit and Governance Committee.

The report included a summary of the contextual economic background and a tabulation of interest rate projections provided by the Council’s Treasury Consultants. Summaries of the Council’s borrowings and investments as at 30 September 2022 were also provided.

The report also sets out the Quarter 2 performance for 2022/23 which forecasted an underspend of £1.5m due to the increase in interest rates.

RESOLVED that Audit and Governance Committee notes the reported activity of the Treasury Management function for April to September 2022.

Voting: Unanimous