Decision details

The Committee considered a report of the Director of Finance, detailing the Council’s Treasury Management report for the first quarter of 2026/27 (April – June 2026). Members were advised that in April 2023, the Council had adopted the Chartered Institute of Public Finance and Accountancy’s Treasury Management in the Public Services: Code of Practice (the CIPFA Code) which required the Authority to approve, as a minimum, treasury management semi-annual and annual outturn reports.

The submitted quarterly report advised the Audit Committee of the performance of the Treasury Management function of the Council for the first quarter of 2026/27 and provided a comparison of performance against the 2026/27 Treasury Management Strategy and the Treasury Management Prudential Indicators.

The Council was required to consider the performance of the Treasury Management function in order to comply with the Chartered Institute of Public Finance and Accountancy’s (CIPFA) Code of Practice on Treasury Management (revised 2021). The quarterly report therefore provided an additional update and includes the new requirement in the 2021 Code, of quarterly reporting of the treasury management prudential indicators.

This report laid out the key Treasury Management issues for Members’ information and review and outlined:

• An economic update for the first quarter of 2025/26.

• Net Borrowing and Investments (Local Context).

• A review and update of the Council’s current treasury management position.

• Council’s borrowing.

• Treasury Investment Activity.

• Treasury Performance for the Quarter.

• Treasury Performance for the Quarter.

• Compliance.

• Treasury Management Prudential Indicators.

The report was presented to the Audit Committee to enable it to have the opportunity to review and scrutinise the Quarter One Treasury Management report.

Resolved:

That the Audit Committee endorses the Treasury Management Quarter One 2026/27 report and the Treasury Management activity and projected outturn, as detailed in the Director of Finance’s report.