Decision Maker: Cabinet

Outcome: For Determination

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: December 9, 2025

Purpose: This report provides Cabinet with a mid-year review of the council’s Treasury Management Strategy Statement and Annual Investment Strategy for 2025/26, approved by council on 27 February 2025, and has been prepared in accordance with the Chartered Institute of Public Finance Accountancy (CIPFA) Code of Practice for Treasury Management in the Public Services. The report also consults the Corporate, Resource Management and Governance (CRMG) Scrutiny Committee on the development of the council’s Treasury Management Strategy Statement (TMSS), Annual Investment Strategy (AIS) and Minimum Revenue Provision (MRP) Policy for 2026/27, to be considered for approval at the Cabinet Meeting on 10 February 2026 and the Council Meeting on 26 February 2026

Content: The Cabinet has considered the Treasury Management Strategy and Annual Investment Strategy Mid-Year Review Report 2025/26 and has agreed to recommended that the Council Meeting:-   (1) Note the report and the treasury activity in the first half of the financial year.   (2) Approve and note the Treasury Management Strategy, Annual Investment Strategy and Minimum Revenue Provision Policy for 2025/26 approved in February 2025, will continue to be followed considering the forecasts and conclusions set out in the report.   (3) Note the revised interest rate forecasts for Bank Rate and PWLB rates over the short and medium-term, which will drive the council’s long-term borrowing strategies going forward.   (4) Note the amendment to the council’s MRP Policy, which has come about due to the mandatory adoption of IFRS16 Leases accounting standard for the 2024/25 Statement of Accounts.   (5) Consider the statements with regard to the Treasury Strategy for 2026/27.

Alternative options considered: None.