The Financial Resilience Sub-Committee of West Suffolk Council met on Monday 13 July 2026 to review the council's financial performance and treasury management activities. The meeting's agenda included discussions on the Annual Treasury Management and Financial Resilience Report for 2025-2026 and the Treasury Management Report for June 2026.

Annual Treasury Management and Financial Resilience Report (2025 to 2026)

The Sub-Committee was scheduled to consider the Annual Treasury Management and Financial Resilience Report for the financial year 2025 to 2026. This report, prepared by Gregory Stevenson, Head of Service (Finance), provides an assessment of the council's treasury management activities in line with the Chartered Institute of Public Finance and Accountancy's (CIPFA) Code of Practice on Treasury Management.

The report detailed that as of 31 March 2026, the council held investments totalling £27,810,000, generating £2,016,421 in interest against a budget of £800,000. This significant surplus was attributed to higher-than-expected cash levels resulting from delays in the capital programme. External borrowing stood at £9,000,000, a reduction of £250,000 from the start of the financial year. Borrowing costs for the year were forecast at £1,423,839 against a budget of £3,275,400, with the difference being transferred to the Capital Projects Financing Reserve.

The report also outlined the council's borrowing strategy, which prioritised the short-term use of internal funds. It detailed various capital projects contributing to the council's borrowing requirement, including the Mildenhall Hub, West Suffolk Operational Hub, and investments in the Growth Fund. The report included an analysis of borrowing and capital costs, affordability assessments, liability benchmarks, and the proportionality of borrowing against the council's asset base. It also examined borrowing and asset yields, noting that investment decisions supported strategic priorities beyond purely financial returns.

Treasury Management Report (June 2026)

The Sub-Committee was also scheduled to review the Treasury Management Report for June 2026. This report covers the period from 1 April 2026 to 30 June 2026 and assesses treasury management activities against the strategy approved in February 2026.

As of 30 June 2026, the council held investments of £29,350,000, with interest earned in the first three months of the financial year amounting to £341,437 against a budget of £157,500. This surplus was due to higher-than-anticipated cash balances and a slightly higher average rate of return on investments. External borrowing was £8,875,000, a decrease of £125,000 from the start of the financial year. Borrowing costs for the year were forecast at £1,931,800 against an approved budget of £4,027,850.

The report highlighted that the council's cash balances remained healthy, partly due to delays in the capital programme. The borrowing strategy continued to focus on the short-term use of internal funds, with external borrowing only being undertaken if a cash need arose and interest rates were favourable. The report included updated information on borrowing and capital costs, affordability, liability benchmarks, and proportionality, as well as an analysis of borrowing and asset yields for the current financial year.

Future Meetings

The dates for future meetings of the Sub-Committee were also noted. These were scheduled for Monday 16 November 2026 and Monday 18 January 2027, both to be held virtually via Microsoft Teams.