Issue - meetings

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

The Cabinet Member for Finance & Resources (Councillor Malcolm Allan) submitted a report (copies of which had been circulated) providing the Annual Report on the functioning of the Council’s Treasury Management functions for 2021/22.

RESOLVED – (1) That approval be given to the actual 2021/22 prudential and treasury indicators in the report.

(2) That the report 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 2021/22. 

Throughout 2021/22 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:

·         Approve the actual 2021/22 prudential and treasury indicators in this report.

·         Note the Annual Treasury Management Report for 2021/22.

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

The Cabinet Member for Finance & Resources (Councillor Malcolm Allan) submitted a report (copies of which had been circulated) providing the Annual Report on the functioning of the Council’s Treasury Management functions for 2021/22.

RESOLVED – (1) That the Council Meeting be recommended to give approval to the actual 2021/22 prudential and treasury indicators in this report.

(2) That the Council Meeting be recommended to note the Annual Treasury Management Report for 2021/22.

To consider a joint report of the Corporate Director (Corporate and Support Services) and the Deputy Chief Executive (Section 151 Officer).

The report provides the details relating to the annual treasury report reviewing treasury management activities and the actual prudential and treasury indicators for 2021/22 and 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 asked to comment on and recommend to Cabinet to:

a)    Approve the actual 2021/22 prudential and treasury indicators in this report; and

b)    Note the Annual Treasury Management Report for 2021/22.

Officer contact: Lorna Soufian on Tel: 0161 474 4026, lorna.soufian@stockport.gov.uk

The Corporate Director (Corporate and Support Services) and the Deputy Chief Executive (Section 151 Officer) submitted a joint report (copies of which had been circulated) providing the details relating to the annual treasury report reviewing treasury management activities and the actual prudential and treasury indicators for 2021/22 and 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 Cabinet Member for Finance and Resources attended the meeting to respond to questions from the Scrutiny Committee.

Clarification was sought relating to all the capital projects and the Council’s satisfaction with its status. In response, it was noted that all of the capital expenditure goes through three tests of prudence, sustainability and affordability and it was always the intention of the Council to seek growth in the local economy.

RESOLVED – (1) That the report be noted.

(2) That the Scrutiny Committee recommend to Cabinet to:

a)    approve the actual 2021/22 prudential and treasury indicators in this report; and

b)    note the Annual Treasury Management Report for 2021/22.