Agenda item

The Committee received the budget as agreed by Council on 24^th February, 2022.  Questions were invited from Committee Members.

In response to a question related to the role of the Treasury Management Panel and Audit and Governance Committee as referenced in the report, it was acknowledged that the Committee was executing its role effectively, with Members fully engaged and providing appropriate challenge.

With regards to a question in relation to borrowing, it was noted that there were plans to de-risk borrowing and move to around 75% of borrowing being fixed interest rate by next year, however this could be undertaken sooner if appropriate.

With regards to capitalising leases and the impact, it was noted that this had been deferred for another year and was subject to consultation.  Members heard that should this happen it would increase debt but that there would be no overall financial impact on the Council.

 RESOLVED that the report be received.