Purpose

To inform Members of the Treasury Management
outturn for 2023/2024.

Content

RESOLVED that the Executive supported
the Treasury Management Outturn Report 2023-24, recommended it to
Council and noted:
 
1)
that all approved indicators set out in the Treasury Management
Strategy had been adhered to; with the exceptions of the following
which have already been reported as part of the mid year
report;
• Capital financing
requirement – HRA.
• Ratio of financing costs to net
revenue stream - HRA
2)
As at the end of March 2024, the total external general fund debt
was £128m, which reduces to £103m after taking into
account cash balances (net indebtedness) reducing interest costs in
the current economic climate. This was an improved position from
the forecast at mid-year stage of £129m external borrowing
and £110m net indebtedness.
3)
An improved position for the ratio of financing costs to net
revenue stream – GF prudential indicator from the mid year forecast. This means
the overall cost of capital is fully funded from investment income
and income received from commercial, regeneration and invest to
save schemes.
4)
A reduction in capital financing requirement (CFR) at
31st March 2024 representing an improved position to £355m from
£398m forecast in the mid-year report. This was achieved
through reducing in year capital spending and maintaining
significant levels of debt repayment (MRP).