Issue - meetings

The Council considered its Treasury Management Strategy statement for 2025/26, fulfilling its legal obligation under the Local Government Act 2003 to have regard to the CIPFA Code which requires this.

On a motion from Councillor Mark Elliot, seconded by Councillor Paul Roper, it was unanimously

RESOLVED to

1.  Approve the actions proposed within the Treasury Management Strategy Statement (Appendix 1); and

2.  Note the Treasury Management Indicators detailed in Appendix 1.

Treasury risk management at the Authority is conducted within the framework of the Chartered Institute of Public Finance and Accountancy’s Treasury Management in the Public Services: Code of Practice 2021 Edition (the CIPFA Code) which requires the Authority to approve a treasury management strategy before the start of each financial year. The report fulfils the Authority’s legal obligation under the Local Government Act 2003 to have regard to the CIPFA Code.

Cllr Mark Elliott, Cabinet Member for Resources, introduced the report, moved the officer recommendation and mad the following points:

·  The Treasury Management Strategy guides the council's treasury activities and ensures prudent financial management.

·  Borrowing at the end of December was just under £270m.

·  Investments were just over £43m.

·  There is exposure to financial risks like loss of invested funds and changing interest rates, so it is important to identify, monitor and control financial risks.

·  Risk management is conducted within the CIPFA Code of Practice framework which requires approval of a treasury management strategy before each financial year.

·  The Strategy sets out:

·  Treasury limits to control risk and activities.

·  Treasury Management Indicators.

·  Current treasury position.

·  Borrowing requirement.

·  Prospects for interest rates.

·  Borrowing strategy.

·  Investment strategy.

Cllr Paul Roper seconded the motion.

RESOLVED unanimously:

(1)  To recommend the actions proposed within the Treasury Management Strategy Statement (Appendix 1 of the report) to Council.

(2)  To note the Treasury Management Indicators detailed in Appendix 1 of the report.