The Group Finance Director submitted a report to Cabinet which sets out the Council’s Treasury Management activity and performance for the financial year 2024/25, (including any prudential borrowing limits which are in line with the capital programme and proposed financing), in line with requirements from CIPFA’s code of practice. 

Cabinet is recommended to:

-       Note the Treasury Management Annual Report for 2024/25 and the Council’s compliance with the Prudential and Treasury Indicators. 

Cabinet resolved to:

-       Note the Treasury Management Annual Report for 2024/25 and the Council’s compliance with the Prudential and Treasury Indicators. 

The Group Finance Director submitted a report to Cabinet which sets out the Council’s Treasury Management activity and performance for the financial year 2024/25, (including any prudential borrowing limits which are in line with the capital programme and proposed financing), in line with requirements from CIPFA’s code of practice. 

Nigel Kennedy, the Group Finance Director, presented the report. He said that the report highlighted how the Council manage their funds and their adherence indicators. He noted the highlights in the report including their investments, how they have spent their cash balances to fund the capital program, and net interests. He outlined their loans at the end of the year and stated that there was no debt in the general fund, that the debt was for the HRA.

Councillor Munkonge thanked the Group Finance Director for the report and asked how Local Government Reorganisation might impact the Council’s investment holdings.

The Group Finance Director responded that that would depend on the outcome of Local Government Reorganisation. He said that when the time came, they would work with other local authorities to address this issue.

Cabinet resolved to:

-       Note the Treasury Management Annual Report for 2024/25 and the Council’s compliance with the Prudential and Treasury Indicators.