Agenda item

Recommendation (to Council: 5 December 2023)

(1)         That the capital and investment outturn report be noted.

(2)         That the actual prudential indicators reported for 2022/23, as detailed in Appendix 1 to the report, be approved.

Reasons:

1.        To comply with the Council’s treasury management policy statement, the Chartered Institute of Public Finance and Accountancy (CIPFA) Code of Practice on treasury management and the CIPFA Prudential Code for Capital Finance in Local Authorities.

2.        As per the treasury management code although the scrutiny of treasury management (and indeed all finance) has been delegated to the Corporate Governance & Standards Committee, ultimate responsibility remains with full Council, this report therefore fulfils that need.

Other options considered and rejected by the Executive:

None.

Details of any conflict of interest declared by the Leader or lead councillors and any dispensation granted:

None.

The outturn report included capital expenditure, non-treasury investments and treasury management performance for the 2022/23 financial year.

The Lead Councillor for Finance and Property commended the report to the Executive.

It was noted that the council’s portfolio was performing well and with a balanced portfolio that included light industrial. Consequently, the council was not so exposed to the fluctuations in office space and retail as other councils.

The Executive,

RESOLVED:

To recommend to Council: 5 December 2023

1.       That the capital and investment outturn report be noted.

2.       That the actual prudential indicators reported for 2022/23, as detailed in Appendix 1 to the report, be approved.

Reasons:

1.       To comply with the Council’s treasury management policy statement, the Chartered Institute of Public Finance and Accountancy (CIPFA) Code of Practice on treasury management and the CIPFA Prudential Code for Capital Finance in Local Authorities.

2.       As per the treasury management code although the scrutiny of treasury management (and indeed all finance) has been delegated to the Corporate Governance & Standards Committee, ultimate responsibility remains with full Council, this report therefore fulfils that need.