Issue - meetings

Treasury Management Strategy Report 2023/24

Meeting: 07/02/2023 - Executive (Item 20)

20 Treasury Management Strategy Report 2023/24 pdf icon PDF 543 KB

To consider the report of the Director Finance.

 

Additional documents:

Decision:

Agreed:

 

RECOMMENDED that Council adopt the new Treasury Management Strategy and delegations contained therein.

 

Reason for Decision: As set out in the report.

 

 

 

Minutes:

The Executive received the report which sought the adoption of the Treasury Management Strategy Report and the incorporated Annual Investment Strategy 2023/24, as required under section 15(1) (a) of the Local Government Act 2003.

 

Members noted that the Department for Levelling Up, Housing and Communities (DLUHC) Guidance on Local Authority Investments required the Council to approve an investment strategy before the start of each financial year, which included both financial and non-financial investments.

 

There were no significant changes to report, however Members were provided an overview of the liability benchmarking included with Appendix 1 of the report, which highlighted the new indicators from the Prudential Code for the Treasury Management Strategy on analysing borrowing.

 

Councillor D. Moore, as an opposition group leader, spoke on this item and enquired that the report stated there were no Net Zero or climate change implications, but investments were being made in certain banks such as Barclays and what advice was being received in relation to achieving Net Zero targets?

 

The Leader advised that he would provide responses to the questions raised.

 

RECOMMENDED that Council adopt the new Treasury Management Strategy and delegations contained therein.