Issue - meetings

Finance and Resources

To review the performance of the Treasury Management function in 2021/22.

Resolved:

That the Annual Treasury Management Report for 2021/22 and the Prudential Indicators for the year, as shown in the Annex to the report, be noted.

Consideration was given to a report of the Finance and Resources Portfolio Holder which reviewed the performance of the Treasury Management function in 2021/22 compared with the forecasts and policies set out for last year. Investment income for the year was £14,800 higher than included in the forecast.

The Council managed all investments in-house during 2021/22. Most investments during the year were placed in call-accounts or fixed-term deposits for durations of up to one year, with the exception of investments to three Local Authorities totalling £15M, for periods of up to five years.

The Council achieved an average investment income rate of 0.42% in the year compared with an average benchmark figure of 0.17%.

Having considered the options and for the reasons set out in the report, Cabinet agreed to the following:

Resolved:

That the Annual Treasury Management Report for 2021/22 and the Prudential Indicators for the year, as shown in the Annex to the report, be noted.