Issue - meetings

Treasury Management Performance - Quarter One

Meeting: 06/10/2022 - Strategy and Resources Committee (Item 288)

288 Treasury Outturn 2021 / 22 pdf icon PDF 289 KB

To consider the report of the Director of Resources, (copy enclosed).

Additional documents:


The Committee considered the report of the Director of Resources that covered the Council’s investment activity for the financial year of 2021 / 22 in accordance with the Chartered Institute of Public Finance and Accountancy Treasury Management Code (CIPFA’s TM Code) and the Council’s Treasury Management Policy and Treasury Management Practices (TMPs).


The Chairman introduced the report and moved the recommendation which was seconded by Councillor Thomson.  She then deferred to the Director of Resources to present the detail.  He took the Committee through the report highlighting key sections. Paragraph 3.7.3 detailed the type of investments held and amounts at year end.  The Council’s long-term investments provided the highest returns and contributed to the higher than budgeted income.  Paragraph 3.8.1 detailed the returns from different investments types.  The Prudential indicators were complied with as outlined on appendix 2.  Investment limits for banks was 2 million, however, due to the nature of current accounts, in that they are not  fixed investments, the limit was exceeded on occasion due to large government grant payments.  The previous approved changes were detailed in paragraph 3.9.2.  In conclusion he recommended that a limit was retained on current accounts to ensure good management of cash and drew attention to Appendix 2 which showed that the Council had no capital borrowing.


In response to issues raised Officers provided the following information:-


  • That a list of those local authorities the Council had investments in both as of now and at year end, would be circulated outside of the meeting.


  • That with reference to the draw down at paragraph 3.7.6 regarding the investment income, the capital amount remained the same and the Council received the interest.


  • That as at paragraph 3.9.2 the Council cannot guarantee that what comes in and out won’t fluctuate however, it had a set limit and will report any changes on that.


  • That low rates of return on investments were due to % rates at the time, the Council’s policy was to balance risk and return, low risk investments e.g. money market fund.


  • That the 2 million counterpart limit was set by the Council as part of its risk management limit with each bank.


  • That there had been a relatively good uptake on the Treasury Investment training, presentations/slides could be circulated to those unable to attend.


Members commended the Director of Resources and his team for their work.


There being no further issues raised the Chairman put the duly seconded recommendation to the Committee and it was agreed by assent.


RESOLVED that members reviewed the treasury outturn report for compliance purposes.

Meeting: 15/09/2022 - Strategy and Resources Committee (Item 6.)

6. Treasury Outturn 2021 / 22 pdf icon PDF 289 KB

To consider the report of the Director of Resources, (copy enclosed).

Additional documents: