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) providing a mid-year review of the Council’s Treasury Management Strategy Statement and Annual Investment Strategy for 2023/24.

RESOLVED – (1) That the report and the treasury activity in the first half of the financial year be noted.

(2) That the revised interest rate forecasts for PWLB rates over the short and medium term which would drive the Council’s long-term borrowing strategies going forward, be noted.

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

This report provides Cabinet with a mid-year review of the Council’s Treasury Management Strategy Statement and Annual Investment Strategy for 2023/24 approved by Council on 23 February 2023 and has been prepared in accordance with the CIPFA Code of Practice for Treasury Management in the Public Services.

The report provides an economic update for the first six months of 2023/24 and details how this impacts upon the interest rate predictions and outlook provided in the initial strategy.

The Cabinet is requested to recommend that the Council Meeting:-

(1) Note the report and the treasury activity in the first half of the financial year.

(2) Note the revised interest rate forecasts for Bank Rate and PWLB rates over the short and medium-term, which will drive the Council’s long-term borrowing strategies going forward.

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) providing a mid-year review of the Council’s Treasury Management Strategy Statement and Annual Investment Strategy for 2023/24 that had been approved by Council on 23 February 2023 and had been prepared in accordance with the CIPFA Code of Practice for Treasury Management in the Public Services.

RESOLVED – (1) That the Council Meeting be recommended to note the report and the treasury activity in the first half of the financial year.

(2) That the Council Meeting be recommended to note the revised interest rate forecasts for Bank Rate and PWLB rates over the short and medium-term, which will drive the Council’s long-term borrowing strategies going forward.