Decision details

The Executive considered a report in respect of the 2022/23 Mid Year Treasury Management Review and Prudential Indicators.

In reply to a question from the Leader regarding local authority borrowing, the Strategic Director (CF) explained that of the £291M figure for SBC borrowing, 71% of that figure related to the financing deal that the Council entered into to buy back its housing stock from the Government.  All four Hertfordshire District/Borough Councils with their own housing stocks had significant levels of borrowing.  A further 19% of the SBC borrowing figure related to investment in the Council’s housing stock, including the Housing Development programme for the provision of brand new Council homes.  90% of the overall borrowing debt related to the Housing Revenue Account, with 2% (£6 Million) for Regeneration projects.

It was RESOLVED that the 2022/23 Mid Year Treasury Management Review and Prudential Indicators be recommended to Council for approval.

Reason for Decision:  As contained in report.

Other Options considered:  As contained in report.