Issue - meetings

Report of the Cabinet Member for Finance and Communities is attached.

Councillor Gold, Cabinet member for Finance and Communities presented to Members of the Cabinet a Treasury Management update.  The Cabinet Member reported that it is a statutory duty for the Council to determine and keep under review the affordable borrowing limits. During the half year ended 30th September 2022, the Council has operated within the treasury and prudential indicators set out in the Council’s Treasury Management Strategy Statement for 2022/23. The Director of Finance reports that no difficulties are envisaged for the current or future years in complying with these indicators.

In discussions that followed the following questions and comments were raised:

The Section 151 Officer reported that Manchester Airport would be charged late payment interest on their outstanding loan.

Recommendation(s)

Cabinet is asked to note the report.

Reasons for recommendation(s)

It is a requirement of the CIPFA Code that the Council receives an annual Treasury Management Outturn Report. It is good practice to also produce a mid-year report.