Issue - decisions

The Cabinet received a report of the Director of Finance which advised Members ofthe performanceof theTreasury Managementfunction for the Council for 2024/25 and provided a comparison of performanceagainst the 2024/25 Treasury Management Strategy and PrudentialIndicators.

Members were informed that the Council is required to consider the performance of the Treasury Managementfunction in order to comply with the Chartered Institute of Public Finance andAccountancy’s (CIPFA) Code of Practice on Treasury Management (revised 2021). This outturn report provided an update and included the new requirement in the 2021 Code, mandatory from 1^st April 2023, of quarterly reporting of the treasury management prudential indicators. This report therefore setout thekey TreasuryManagement issuesfor Members’information andreviews and outlines:

·                     An economic update for2024/25.

·                     A review and updates of the Council’s current treasury management position.

·                     Council Borrowing.

·                     Treasury Investment Activity.

·                     Treasury Performance for 2024/25; and

·                     Treasury Management Prudential Indicators.

The submitted report had previously been presented to and considered by the Audit Committee at its meeting on 23^rd July 2025. The Audit Committee has responsibility for scrutinising all of the Council’s treasury management arrangements.  All questions and issues raised at the meeting were addressed to the satisfaction of the Committee Members.  The Committee was content to recommend the report to Cabinet. After consideration by the Cabinet, the report was due to be presented to the Council on 17^th September 2025.

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Options/alternatives considered: In order that the Council complies with the Chartered Institute of Public Finance and Accountancy’s (CIPFA) Code of Practice on Treasury Management, the Audit Committee, at its meeting on 23^rd July 2025, had no option other than to consider and approve the contents of the report. Therefore, no options/alternatives have been presented.

Resolved:

1.    That the Cabinet approves the Treasury Management Outturn report for 2024/25 and the Treasury Management activity and commends the report to Council.

2.    That the Cabinet approves the proposed increases in the Operational Boundary and Authorised Limit in relation to PFI and Finance Lease debt liabilities as detailed in section 2.5 of the report and accordingly commends it to Council.