Decision details

The Chief Officer, Financial Services submitted a report which presented the Council’s Treasury Management position as at the Outturn for the 2023/24 financial year.

The Executive Member introduced the report, and paid tribute to the officers involved in the area of Treasury Management for the outcomes which had been achieved. The lower than forecasted borrowing levels were highlighted.

An enquiry was raised which sought further information and context regarding the less than forecasted borrowing levels, which were a result of the Council being underspent on the Capital Programme. In response, the Board was provided with further information in relation to the underspend and noted that it was not an intentional strategy but that schemes had slipped into the next year, which would be for a range of reasons.

RESOLVED – That the Treasury Management outturn position for 2023/24, as presented within the submitted report, be noted; with it also being noted that treasury activity has remained within the Treasury Management Strategy and Policy framework.