Decision details

Recommend the report to Council, which includes the Council's actual Prudential and Treasury Indicators for 2023/24.

Matter for Decision

The Council is required by regulations issued under the Local Government Act 2003 to produce an annual treasury report reviewing treasury management activities and the actual prudential and treasury indicators for each financial year.

Decision of Executive Councillor for Finance and Resources

To recommend the Annual Treasury Management (Outturn) report to Council, which included the Council’s actual Prudential and Treasury Indicators for 2023/24.

Reason for the Decision

As set out in the Officer’s report.

Any Alternative Options Considered and Rejected

Not applicable.

Scrutiny Considerations

The Committee received a report from the Chief Finance Officer who said the following in response to Members’ questions:

      i.          The Council’s investment in Barclays was not via Link but as their role as the main Council’s bankers.

     ii.          The Council held an ongoing banking contract with Barclays until 2026.

   iii.          Following the Council’s agreement at Full Council May 2024 to investigate the implications of stopping banking with Barclays, this was being investigated by Officers. Member consultation had been placed on hold during the pre-election period but now this was over, engagement with Members would begin.

The Committee voted Unanimously to endorse the Officer recommendations. 

Conflicts of Interest Declared by the Executive Councillor (and any Dispensations Granted)

No conflicts of interest were declared by the Executive Councillor.