Issue - meetings

The quarter 3 Treasury Management report is to be presented to Cabinet.

Cabinet:

1.     NOTED the Quarter 3 position on the Treasury activity for 2024-25

2.     NOTED the Quarter 3 position on the Prudential Indicators for 2024-25

The Portfolio Holder for Corporate Finance, Property and Resources, Councillor Cox, introduced the report and moved the Recommendations. Councillor Glancy seconded the motion.

Councillor Cox updated the committee advising that the Strategy override relating to legacy investments in place prior to 1 April 2024 will continue until April 2029 so we do not need to account until after that time for the reduction in the value of the property fund.

RESOLVED

That Cabinet:

1. NOTED the Quarter 3 position on the Treasury activity for 2024-25

2. NOTED the Quarter 3 position on the Prudential Indicators for 2024-25

(Non-Key Decision)

Reasons for Recommendations:

The Prudential Code requires the Council to monitor and report performance on Treasury Management activities at least quarterly. As a minimum Full Council need to receive an annual report on the strategy and plan for the coming financial year, a mid-year review and an annual report on performance of the treasury management function. In addition, monitoring reports should be received at least quarterly alongside revenue and capital monitoring by the Cabinet as the body delegated responsibility for treasury management Functions.

To facilitate the decision-making process and support capital investment decisions the Prudential Code requires the Council to agree and monitor a minimum number of prudential indicators.