Decision details

RESOLVED: To note the report entitled Investment Strategy (Capital and Treasury) End of Year Review 2021/22

RECOMMENDED TO CABINET: That Cabinet:

(1)       Notes expenditure of £1.434million in 2021/22 on the capital programme, paragraph 8.3 refers.

(2)       Approves the adjustments to the capital programme for 2022/23 as a result of the revised timetable of schemes detailed in table 2, increasing the estimated spend in  by £0.979million.

(3)       Notes the position of the availability of capital resources, as detailed in table 3 paragraph 8.7 and the requirement to keep the capital programme under review for affordability.

(4)       Approves the application of £1.225million of capital receipts/set aside towards the 2021/22 capital programme, paragraph 8.7 refers.

(5)       Notes the position of Treasury Management activity as at the end of March 2022.

That Cabinet recommends to Council to:

(1)       Approve the actual 2021/22 prudential and treasury indicators.

(2)       Note the annual Treasury Report for 2021/22.

REASONS FOR DECISIONS:

(1)       Cabinet is required to approve adjustments to the capital programme and ensure the capital programme is fully funded.

(2)       To ensure the Council’s continued compliance with CIPFA’s code of practice on Treasury Management and the Local Government Act 2003 and that the Council manages its exposure to interest and capital risk.