Issue - meetings

The Deputy Chief Executive presented the Treasury Management Outturn Report.

It was explained that the Council had adopted the Chartered Institute of Public Finance and Accountancy’s Treasury Management in the Public Services: Code of Practice (the CIPFA Code) which required the Authority to approve, as a minimum, treasury management semi-annual and annual outturn reports. It was noted that this monitoring appeared as part of the regular financial monitoring reports presented to Council on a quarterly basis.

It was important to note that Councils were not permitted to invest for profit and any returns received were used only for operation and regeneration purposes.

The Treasury Management Strategy had been approved by Members in February 2023 and only one indicator had been breached, which as discussed earlier during the course of the meeting was a loan between Redditch Borough Council and Bromsgrove District Council and this loan had been repaid.

RECOMMENDED that COUNCIL approve

1) the Council’s Treasury performance for the financial year 23/24.

2) the position in relation to the Council’s Prudential indicators.