The Head of Financial Services has submitted a report detailing the performance of the Treasury Management function for the 6 months to 30 September 2022.

Cabinet is recommended to:

1.      Note the performance of the Treasury Management function for the six months to 30 September 2022.

The Head of Financial Services had submitted a report detailing the performance of the Treasury Management function for the 6 months to 30 September 2022.

Councillor Ed Turner, Cabinet Member for Finance and Asset Management highlighted that budgeted investment income and income from loans had been above projection, largely due to higher interest rates and reduced borrowing and lending.  However, it was also noted that there were detrimental consequences in other areas of the budget as a result of rising interest rates.

Cabinet resolved to:

1.      Note the performance of the Treasury Management function for the six months to 30 September 2022.