Agenda item

Treasury Management Outturn Report 2021/2022


The Committee received a report of the Corporate Director of Resources which provided information on the treasury management outturn position for 2021/22 (for copy see file of minutes).


In response to a query from Mr Rudd regarding the risk to the authority in relation to the base rate increase, the Head of Corporate Finance and Commercial Services advised that the quarter one forecast for this year was reported to Cabinet in September 2022 and reflected that investment income was significantly higher than budgeted. In the short term, the forecast of outturn would continue to reflect the over recovering against the budget, however it was noted that interest rates were much higher that originally forecast. With reference to the current cash balances and reserves, the Council were in a fortunate position that borrowing would not be necessary for the next two years, however due to the inherent risk, capital programmes may need to be review if interest rates continue to increase.



That the report be noted.


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