Issue - meetings

To consider a report of the Cabinet Member for Finance & Resources.

The Cabinet Member for Finance & Resources (Councillor Jilly Julian) submitted a report (copies of which had been circulated) detailing the annual treasury report reviewing treasury management activities and the actual prudential and treasury indicators for 2022/23.

RESOLVED - (1) That the actual 2022/23 prudential and treasury indicators in the report be approved.

(2) That the Annual Treasury Management Report for 2022/23 be noted.

To consider a report of the Cabinet Member for Finance & Resources.

The purpose of this report is to inform the Cabinet on the operation and effectiveness of the Council's Treasury Management function for 2022/23. 

Throughout 2022/23 the Council complied with its legislative and regulatory requirements.  The key actual prudential and treasury indicators detailing the impact of capital expenditure activities during the year, with comparators are found in the main body of the report. 

The Deputy Chief Executive (Section 151 Officer) confirms that borrowing was only undertaken for a capital purpose and the statutory borrowing limit (the authorised limit) was not breached.

The investment activity during the year conformed to the approved strategy and the Council had no liquidity issues.

The Cabinet is requested to recommend that the Council Meeting:

(1) Approve the actual 2022/23 prudential and treasury indicators in this report;

(2) Note the Annual Treasury Management Report for 2022/23.

Officer Contact: Lorna Soufian on 0161 474 4026 or email: lorna.soufian@stockport.gov.uk

The Cabinet Member for Finance & Resources (Councillor Jilly Julian) submitted a report (copies of which had been circulated) detailing the Annual Report on the functioning of the Council’s Treasury Management functions for 2022/23.

RESOLVED – That the Council Meeting be recommended to:-

(1) Approve the actual 2022/23 prudential and treasury indicators in this report.

(2) Note the Annual Treasury Management Report for 2022/23.

To consider a report of the Deputy Chief Executive (Section 151 Officer).

The report reviews treasury management activities and the actual prudential and treasury indicators for 2022/23. It also meets the requirements of both the CIPFA Code of Practice on Treasury Management (the Code) and the CIPFA Prudential Code for Capital Finance in Local Authorities (the Prudential Code).

The Scrutiny Committee is recommended to comment on the report and recommend Cabinet to:

(1) approve the actual 2022/23 prudential and treasury indicators in this report; and

(2) note the Annual Treasury Management Report for 2022/23.

Officer contact: Lorna Soufian on tel 0161 474 4026 or email lorna.soufian@stockport.gov.uk

The Deputy Chief Executive (Section 151 Officer) submitted a report (copies of which had been circulated) reviewing treasury management activities and the actual prudential and treasury indicators for 2022/23. It also met the requirements of both the CIPFA Code of Practice on Treasury Management (the Code) and the CIPFA Prudential Code for Capital Finance in Local Authorities (the Prudential Code).

The Cabinet Member for Finance and Resources (Councillor Jilly Julian) attended the meeting to respond to councillors’ questions.

The following comments were made/ issues raised:-

·         In the light of the recent announcement that Birmingham City Council had issued a Section 114 notice, members queried whether the council would assess what had gone wrong in Birmingham.

·         In response it was stated that position would be looked at in some detailed at in order to learn from what had gone wrong elsewhere, including other local authorities which had issued Section 114 notices.

RESOLVED - That the report be noted.