The Head of Financial Services has submitted a report setting out the Council’s Treasury Management activity and performance for the financial year 2021/22.

Cabinet is recommended to:

1.       Note the report.

The Head of Financial Services had submitted a report setting out the Council’s Treasury Management activity and performance for the financial year 2021/22.

It was noted that there had been a slight favourable variance in net General Fund interest (£4.82m against a target of £4.73m).

The Head of Financial Services reported that the outcome was awaited of the government’s second consultation on Minimum Revenue Provision (MRP), but it was hoped that this would be favourable.  Officers (particularly the Financial Accounting Manager) and the Cabinet Member for Finance and Asset Management were thanked for their work in raising concerns about the initial proposals during the first consultation, which were considered to have been instrumental in securing changes. 

Cabinet resolved to:

1.        Note the report.