The Head of Financial Services has submitted a report to set out the Council’s Treasury Management activity and performance for the financial year 2023/24.

Cabinet is recommended to:

1.      Note the report.

The Head of Financial Services had submitted a report to set out the Council’s Treasury Management activity and performance for the financial year 2023/24.

Councillor Ed Turner, Cabinet Member for Finance and Asset Management, highlighted that the report showed a favourable variance of £1.5 million on net interest earned during the year, which was largely explained by interest rates and slippage on the capital programme, including lower loan requirements from the housing companies due to internal borrowing.

It was also noted that the Council fully complied with its Treasury Management Strategy in relation to both debt and investment management in 2023-24.

Cabinet resolved to:

1.      Note the report.