Issue - meetings

Executive Summary

This report sets out the Council’s Treasury Management Strategy for the year 2024/25. It sets out details of the Council’s Treasury Management activities and presents a strategy for the prudent investment of the Council’s resources. It also sets out the Council’s approach to the deployment of capital resources in meeting the Council’s overall aims and objectives.  

Options considered

No other options considered. It is a requirement that the Treasury Management Strategy report must be approved by full Council each year in advance of the new financial year to ensure the Council is compliant with the CIPFA Treasury Management, CIPFA Prudential Codes and guidance issued by the Department of Levelling Up, Housing & Communities (DLUHC).

Consultation(s)

Cabinet Member

Section 151 Officer

This report has been prepared with the assistance of Link Treasury Services, the Council’s Treasury Management advisors.

Recommendations

To recommend to full Council that the Treasury Management Strategy 2024/25 is approved.

Reasons for recommendations

Approval by Full Council demonstrates compliance with the Prudential Codes to ensure;

·         A flexible investment strategy enabling the Council to respond to changing market conditions.

·         Ensure compliance with CIPFA and DHLUC guidance.

·         Confirming capital resources available for delivery of the Council’s capital programme.

It is a requirement that any proposed changes to the prudential indicators are approved by Full Council.

Background papers

The Council’s Treasury Management Strategy 2023/24.

CIPFA Prudential Code (Treasury Management in the Public Services: Code of Practice 2021 Edition).

CIPFA Prudential Code (Capital Finance in Local Authorities: Code of Practice 2021 Edition).

Wards affected

All

Cabinet member(s)

Cllr. Lucy Shires

Contact Officer

James Moore

Links to key documents:

Corporate Plan:          

This report is required to ensure that the Council can demonstrate it is in a sound financial position and able to deliver the projects in the Capital Programme which support the Corporate Plan Objectives. 

Medium Term Financial Strategy (MTFS)                                

This report supports the MTFS in confirming adequate financing is in place for the Council to operate its regular functions alongside delivering the Council’s Capital Programme.

Council Policies & Strategies

N/A

Corporate Governance:

Is this a key decision 

No

Has the public interest test been applied

Not an exempt item.

Details of any previous decision(s) on this matter

N/A