The sixth item requiring approval was in relation to the Treasury Management Strategy 2023/24.

On a motion by Councillor Janette Williamson, seconded by Councillor Jean Robinson it was -

Resolved – That

(1)  the Treasury Management and Investment Strategy for 2023/2024 be approved.

(2)  the Treasury Management Prudential Indicators be approved.

The Director of Finance introduced the report which provided the Treasury Management Strategy for 2023/24. Treasury management was the management of the Council’s cash flows, borrowing and investments, and the associated risks. The Council had substantial sums of money both borrowed and invested and was therefore exposed to financial risks including the loss of invested funds and the revenue effect of changing interest rates. The successful identification, monitoring and control of financial risk were therefore central to the Council’s prudent financial management.

In response to a query, the Director of Finance undertook to provide a report to a future meeting on benchmarking the Council’s risk appetite against other Local Authorities.

Resolved – That

(1)  Council be recommended to approve the Treasury Management and Investment Strategy for 2023/2024.

(2)  Council be recommended to approve the Treasury Management Prudential Indicators.