Issue - meetings

Rob Powell (Executive Director, Resources) said the treasury management had been a big positive for the Council in the last year and had been instrumental in navigating significant financial challenges in the last financial year. The Chair noted there had been a significant increase in revenue generated from higher interest rates, but this may not continue in future.

Councillor Sinclair noted the weighted yield for internally managed funds recorded in the report was lower than the benchmark. Rob Powell said this was a lagging measure and that some of the rates were fixed.

Members voted to formally endorse the Treasury Management and Investment (Non-Treasury) outturn reports for 2023/24.