Issue - meetings

Cabinet Member: Finance

Forward Plan Ref: 2022/189

Contact: Tim Chapple, Treasury Manager, tim.chapple@oxfordshire.gov.uk

Report by Director of Finance (CA10).

Cabinet is RECOMMENDED to note the report, and to RECOMMEND Council to note the council’s treasury management activity in the third quarter of 2022/23.

Recommendations approved.

Cabinet considered a report covering the treasury management activity for the third quarter of 2022/23 in compliance with the CIPFA Code of Practice on Treasury Management 2021.  It provided an update on the anticipated position and prudential indicators set out in the Treasury Management Strategy Statement & Annual Investment Strategy for 2022/23 agreed as part of the Council’s budget and Medium Term Financial Strategy in February 2022.

Councillor Calum Miller, Cabinet Member for Finance, introduced the report.  Higher interest rates had resulted in higher than expected interest receivable on the surplus cash held.  Some investments have been more challenged but none have materially damaged the overall Treasury position.

Councillor Miller had also consulted with officers and was assured that no investments or funds were held with financial institutions that were currently under threat.

The recommendations were proposed by Councillor Miller, seconded by Councillor Enright and agreed.

RESOLVED:

to note the report, and to RECOMMEND Council to note the Council’s treasury management activity in the third quarter of 2022/23.