Treasury Management Report
September 28, 2023 Executive (Other) Key decision Approved View on council websiteThis summary is generated by AI from the council’s published record and supporting documents. Check the full council record and source link before relying on it.
Summary
The Executive supported the Treasury Management Outturn Report 2022-23 and recommended it to Council on 28 September 2023. The Executive noted that all approved indicators were adhered to, with exceptions for the internal borrowing ratio, ratio of financing costs to net revenue stream (General Fund), and capital financing requirement (HRA). The Council's net indebtedness was £68m as of March 2023, an improvement from the previous year.
Full council record
Purpose
To receive an update on the Council's Treasury Management strategy.
Decision
RESOLVED that the Executive supported the Treasury Management Outturn Report 2022-23 and recommended it to Council and noted:
1) that all approved indicators set out in the Treasury Management Strategy have been adhered to; with the exceptions of;
• Internal borrowing ratio.
• Ratio of financing costs to net revenue stream – General Fund.
• Capital financing requirement – HRA.
2) As at the end of March 2023, the total external general fund debt was £118m, which reduces to £68m after taking into account cash balances (net indebtedness) reducing interest costs in the current economic climate. This was an improved position from the forecast at mid-year stage of £81m net indebtedness and £72m at March 2022.
Supporting Documents
Details
| Outcome | Recommendations Approved |
| Decision date | 28 Sep 2023 |