Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: February 12, 2025

Purpose: The report proposes the Treasury Strategy for 2025/26 and recommends Prudential and Treasury Indicators for 2023/24 to 2025/26.

Content: RESOLVED:   That Cabinet recommends that Council:-   a.     Approve, with any comments, the Treasury Strategy for 2025/26   b.     Approve, with any comments, the Prudential Indicators, set out in Appendix 1, in accordance with the Local Government Act 2003.   c.     Approve, with any comments, the Investment Strategy, set out in Appendix 2 in accordance with the DLUHC Guidance on Local Government Investments.   d.     Approve, with any comments, the Minimum Revenue Provision (MRP) Policy Statement, set out in Appendix 3.   e.     Authorise the Section 151 Officer to exercise the borrowing powers contained in Section 3 of the Local Government Act 2003 and to manage the Council’s debt portfolio in accordance with the Treasury Strategy.   f.      Authorise the Section 151 Officer to use other Foreign Banks which meet Link’s creditworthiness policy as required.   g.     Authorise the Section 151 Officer to increase the PRS Loan Facility from £10m to up to £30m, pending Housing Supervisory Board consultation and cabinet approval.