Issue - meetings

Treasury and Prudential Indicator Management Report Quarter 3

 

 

Meeting: 23/03/2023 - Cabinet (Item 145)

145 Treasury and Prudential Indicator Management Report Quarter 3 pdf icon PDF 174 KB

To consider and decide on the recommendations as set out in the associated report.

 

Additional documents:

Decision:

RESOLVED – 

 

  1. That the Treasury Management and Prudential Indicator position for 2022/23 be noted. 

 

  1. That the forecast for investment and bank interest is £1,595,000, an increase of £1,150,000 from the approved budget of £445,000 and a further improvement of £400,000 from the Quarter 2 projection be noted.

 

REASON FOR DECISION: Ensuring effective cash flow management is vital in order to support all the services provided by the Council. The interest received from investments is an important source of income in helping to set a balanced budget.

 

Minutes:

Councillor Christopher Hall, Cabinet Member for Finance and Performance introduced Jane Fineman, Head of Finance, Procurement and Parking who presented the report set out in the agenda.

 

Discussion and questions from Members included the following:

 

-       The increase in interest rates was good news for the Council.

-       The Finance Team had been very proactive in finding investment opportunities to take advantage of the higher interest rates on offer.

-       The additional projected income from higher interest rates had now been included in the forecast so it could not be relied on for next year.

 

RESOLVED – 

 

  1. That the Treasury Management and Prudential Indicator position for 2022/23 be noted. 

 

  1. That the forecast for investment and bank interest is £1,595,000, an increase of £1,150,000 from the approved budget of £445,000 and a further improvement of £400,000 from the Quarter 2 projection be noted.

 

REASON FOR DECISION: Ensuring effective cash flow management is vital in order to support all the services provided by the Council. The interest received from investments is an important source of income in helping to set a balanced budget.

 

Meeting: 07/03/2023 - Finance and Governance Cabinet Advisory Board (Item 89)

89 Treasury and Prudential Indicator Management Report Quarter 3 pdf icon PDF 175 KB

To consider and provide a recommendation to Cabinet on the proposals set out in the attached report.

Additional documents:

Minutes:

Jane Fineman, Head of Finance, Procurement and Parking introduced the report set out in the agenda.

 

Discussion and questions from Members included the following:

 

-       It was noted that the Council did not have a treasury team and this work was undertaken by existing staff with the finance team within TWBC.

-       A Treasury Management Strategy report was approved by Full Council every year. 

 

RESOLVED – That the recommendations to Cabinet as set out in the report be supported.