This report gives an update on the Council’s treasury management activity and performance for the period April to October 2023. It also presents an update to the Council’s Minimum Revenue Provision (MRP) policy for 2023/24, following discussions between the S151 Officer and the Council’s external auditors. The report was presented to and was approved by Audit & Scrutiny Committee on 14th November 2023. The report is now being presented for consideration and approval to Ordinary Council in accordance with the Council’s Treasury Management Practices.

Cllr Kendall thanked the work the team had been doing and welcomed the Member Briefing in January. 

Cllr Aspinell MOVED and Cllr Laplain SECONDED the recommendations in the report. A vote was taken and it was RESOLVED UNANIMOUSLY

R1. To note the Council’s treasury management activity and performance for the period April to October 2023.

R2. To approve the revised prudential indicators set out in paragraph 13.

R3. To approve the updated MRP policy

REASONS FOR RECOMMENDATIONS

To enable the scrutiny of the Council’s Treasury Management activity and performance in 2023/24 in compliance with CIPFA’s Treasury Management in the Public Services: Code of Practice (the CIPFA Code 2021 Edition) and generally accepted good practice. To add clarity to the method for calculating MRP being followed in respect of the debt liability pre-1 April 2008.