Issue - meetings

A report that provides an update to Cabinet on Treasury Management.

Cabinet Portfolio Holder – Councillor Peter Butlin

Councillor Peter Butlin (Deputy Leader and Portfolio Holder for Finance and Property) presented the six monthly review of treasury management activity, particularly highlighting that since the last reported at the 2021/22 outturn, a net cash outflow from the organisation of £3.62m had been seen and, due to improved interest rates, the Treasury Team had achieved £0.75m more return on cash investments than originally budgeted.  The Team continued to review the benchmark used to compare treasury management performance and had been asked to explore this further as tighter medium term cash flow forecasting could allow the Council to lock in investments for slightly longer periods to access better overall returns.   Councillor Butlin extended his congratulations to the Treasury Management Team for the work that they had undertaken.

Resolved:

That Cabinet notes Treasury Management activity and performance in respect of the first 6 months of the 2022/23 financial year.