Agenda item

Treasury Management Annual Report 2022/23


The Portfolio Holder for Finance & Investment presented the report which sought Members approval. The report was one of a number that were recommended for submission to Members before, during and after the financial year to comply with the CIPFA Code of Practice on Treasury Management. The report constituted the annual report looking at the investment outturn and performance for 2022/23, the capital programme, the Council’s borrowing activity and investment strategy.


The Senior Principal Accountant further advised that the report looked back at treasury management activity during the financial year 2022/23. The strategy was approved by Council in February 2022 and the report dealt with treasury management activity in the year ended 31 March 2023, with the continued cautious investment approach as in previous years. Attention was brought to paragraphs 41 – 47 of the report.


Due to rising interest rates during 2022/23 investment interest receipts were greater than budgeted. In addition, investments in multi-asset income funds were placed in May 2022. These investments had the potential for greater returns over the longer term but come with the risk of capital loss as well as capital appreciation. Interest received on the multi-asset income funds contributed to the improved performance during the year.


On the debt side there were no additional long-term borrowing during the year and no rescheduling of existing debt.


Members discussed the report.


Public Sector Equality Duty

Members noted that consideration had been given to impacts under the Public Sector Equality Duty.


Resolved: That the Annual Treasury Management 2022/23, be approved.


Supporting documents:


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