11 Annual Treasury Management Report 2024/25 PDF 760 KB
Additional documents:
Minutes:
The Committee heard from the Interim Financial Services Manager (Deputy S151) regarding the Annual Treasury Management Report for 2024/25. It was explained that Council was required to receive, as a minimum, an annual treasury strategy in advance of the year, which was presented in March 2024; a mid-year treasury update report, which was presented in January 2025; and an annual review following the end of the year describing the activity compared to the strategy, which was the report presented to the Committee at his stage, for recommendation to Council. In addition, the Corporate Policy and Resources Committee received quarterly treasury management update reports.
The report as presented summarised capital activity during the year; the impact of that activity on the Council’s underlying indebtedness, (the Capital Financing Requirement); the actual prudential and treasury indicators; the overall treasury position identifying how the Council had borrowed in relation to this indebtedness, and the impact on investment balances; a summary of interest rate movements in the year; detailed debt activity; and detailed investment activity. During 2024/25, the Council complied with its legislative and regulatory requirements. The Director of Finance and Assets (S151 Officer) also confirmed that borrowing was only undertaken for a capital purpose and the statutory borrowing limit, (the authorised limit), was not breached.
Members of the Committee were satisfied the information presented to them, and extended their thanks, not only to the presenting officer, but to the team as a whole for maintaining the financial integrity of the council.
Having been proposed, seconded, and voted upon it was unanimously
RESOLVED that the Annual Treasury Management Report and actual Prudential Indicators 2024/25 be RECOMMENDED to Full Council for approval.