Issue - meetings

Annual Treasury Report 2023/24

Meeting: 16/09/2024 - Full Council (Item 33)

33 Annual Treasury Report 2023/24 pdf icon PDF 176 KB

(A report by Christine Marshall, Deputy Chief Executive & S151)

Additional documents:

Minutes:

Councillor Sandeep Ghosh presented a report by the Deputy Chief Executive – Corporate Development & Section 151 Officer which provided Members with a review of Treasury Management performance and activity during 2023/24 to ensure best practice was maintained.

 

Members noted that the Council was required to produce an Annual Treasury report after the end of each financial year in accordance with the Chartered Institute of Public Finance and Accountancy’s Code of Practice on Treasury Management. The Annual Treasury Report 2023/24, in Appendix A within the report, was considered by the Audit and Governance Committee at its meeting on 8 July 2024. A full breakdown of capital expenditure was detailed in Appendix A1, at the end of the report.

 

The Portfolio Holder and Officers were congratulated for their work. 

 

The recommendations were moved by Councillor Sandeep Ghosh and seconded by Councillor Anne Dorrian.

 

RESOLVED:

 

That the Annual Treasury Management Review 2023/24, in Appendix A within the report, as required by the Local Government Act 2003 following scrutiny by the Audit and Governance Committee at their meeting on 8 July 2024 be approved.

 


Meeting: 08/07/2024 - Audit & Governance Committee (Item 10)

10 Annual Treasury Report 2023/24 pdf icon PDF 245 KB

(A report by Christine Marshall, Deputy Chief Executive – Corporate Development & S151)

Additional documents:

Minutes:

The Interim Treasury & Investments Manager, PSPSL presented a report by the Deputy Chief Executive – Corporate Development & S151 which provided details of the Annual Treasury Report 2023/24, attached at Appendix A within the report, for the Committee to provide comments on prior to consideration by Full Council on 16th September 2024.

 

The report covered the following areas;

 

  • An economic update for the 2023/24 financial year;
  • A review of the Council’s investment portfolio for 2023/24;
  • A review of the Council’s borrowing strategy for 2023/24;
  • Debt position; and
  • Compliance with Treasury and Prudential indicators.

 

The Council approved its Treasury Management Strategy for 2023/24 on 6th March 2023.

 

The Chairman referred to the liquidation of the M&G fund and queried when it was going to happen. The Interim Treasury & Investments Manager, PSPSL advised that it was already happening as M&G had already sold the majority of those assets and were expecting the finalisation to be in the next financial year 2025/26.

 

Councillor James Cantwell referred to page 116 within the report and queried why there was a difference between the unfinanced capital expenditure estimate and actual. The Interim Treasury & Investments Manager, PSPSL explained that the actual figures had been included in the financial statements; and the audited financial statements for 2022/23 and the 31st March 2024 estimate had been based at a time prior to the end of the financial year when the budgets were produced. Members noted that the M&G receipts had impacted on these figures and there was a discussion regarding property funds in general.

 

RESOLVED:

 

That the report be noted.