Issue - meetings

The report gives details of performance against the Council’s Treasury Management Strategy for the first six months of 2024/25.

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

·  The treasury management function is well run and well controlled and is in a robust underlying position.

·  The Council is within its borrowing limits, its portfolio credit rating is AA, we had a minimum of £15.3 in liquid cash, our interest rate exposure risk is very low, our refinancing risk is much lower than required at each band, our early repayment risks are on or below limits and we are under-borrowed by about £32m.

Cllr Sarah Warren seconded the motion.

Cllr Kevin Guy stated that this would be Andy Rothery’s last Cabinet meeting before he takes up his new position as Director of Finance at Bristol City Council.  The Cabinet thanked Andy for his excellent work and wished him well in his future role.

RESOLVED (unanimously):

(1)  To note the Treasury Management report to 30^th September 2024, prepared in accordance with the CIPFA Treasury Code of Practice.

(2)  To note the Treasury Management Indicators to 30^th September 2024.