Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: February 11, 2025

Purpose:

Content: The Cabinet considered a report of the Director of Corporate Services / Chief Finance Officer, which sought approval for the 2025/26 Treasury Management Strategy (TMS), set out in Appendix 1 of the report, which outlined how the Council would meet the requirements of the relevant legislation, codes of practice and guidance that form the Prudential Framework.   The report author was in attendance to present the information and to address the questions and the comments of the Cabinet Members.   Resolved: 1.    That the Treasury Management Strategy for 2025/26 be recommended to Council for approval with particular reference to: a.    The objectives of treasury management contained in section 2 of Appendix A of the report; b.    The forecasted capital financing / borrowing requirement in section 3.1.1 (Table 2) and 3.1.2 (Table 3) of the report; c.    The Operational Boundary and Authorised Limit for debt contained in section 3.1.3 (Table 4) of the report; d.    The Council’s criteria for assessing the creditworthiness of counterparties for investments contained in section 3.2.1 with an emphasis on security of capital over return, noting the institutional investment limits in Table 8 (3.2.4) of the report; e.    The additional Prudential and Treasury Indicators identified in section 3.4 of the report; f.     The Minimum Revenue Provision Policy contained in section 3.5 of the report; 2.    That the Chief Finance Officer be given delegated authority to approve a breach in The Operational Boundary and Authorised Limit for debt contained where it would be advantageous to the Council (3.1.3 of the report); 3.    That the Chief Finance Officer be given delegated authority to temporarily suspend or amend the Council’s own creditworthiness criteria adjusting limits with individual counterparties, if appropriate, as described in section 3.2.1 of the report.   Reason for decision: The report was produced to gain Cabinet Members’ approval of the Treasury Management Strategy for submission to Full Council and to ensure that Cabinet Members were informed of and ensure adherence to the requirements of the Prudential Framework.   Alternatives considered and rejected: There were no feasible alternatives – all proposals were in accordance with the revised CIPFA Prudential Code and Code of Practice on Treasury Management, which had been formally adopted by the Council and with Government guidance regarding the Treasury Management Strategy.