Cabinet Member for Finance and Resources
“Staffordshire County Council is a well-run council, and we continue to manage our finances prudently while doing and spending what is required.
By using cash reserves rather than borrowing more, we have been able to achieve substantial savings in what remain challenging times. As well as being prudent, our low-risk investment approach, which focuses on lending to low-risk institutions, means we have been well placed to deal with challenges arising from difficulties the current global economy presents.
We remain committed to supporting local businesses along with providing access to funding, as we work to grow our economy. Like most Councils we face financial pressures, rising costs and uncertainty over the long-term funding of some services. We will continue to spend and invest where necessary, focusing our efforts and resources on where they are most needed while providing best value for money for local taxpayers.”
Ian Parry, Cabinet Member for Finance and Resources
Reasons for the Decision – To consider a summary of the County Council’s borrowing and investment activities during the first six months of the year.
Decision – (a) That the treasury management activities for the half-year ended 30 September 2022 be noted.
(b) That the Prudential Indicators (shown in Appendix 2 to the report be noted and the increase to the Upper Limit of variable rate interest exposure from £316 million to £420 million (as detailed in the report) be approved.
(c) That the proposed revision to the Non-Standard Investment limits to £100 million per asset class and £200 million in total (as laid out in the report and detailed in Appendix 5) be noted and approved.