Issue - meetings

Report of Councillor Pat Kerry, Deputy Leader of the Council and Portfolio Holder for Strategic Leadership and Finance.

RESOLVED that the outturn position in respect of the 2024/25 financial year be noted.

REASONS FOR DECISION - The Council operated in line with its agreed Treasury Management Strategy during the 2024/25 financial year. This ensured that lending and borrowing arrangements were prudent and sustainable, minimising the risk of financial loss to the Council. Effective management of these arrangements ensured that interest costs during the year were minimised to assist the Council’s revenue position whilst interest receivable increased slightly above budget due to increased interest rates.

OTHER OPTIONS CONSIDERED AND REJECTED - This report was primarily a factual report detailing the actual position against the Council’s previously approved treasury management strategy. Accordingly, the report does not set out any options where a decision is required by Members.

This was not a Key Decision and so can be implemented with immediate effect by officers.

The report set out the Treasury Management Outturn position for 2024/25.

Attached to the report at Appendix 1 was the Treasury Management Outturn 2024/25 and at Appendix 2 was the Prudential Indicators Outturn 2024/25.

The key points from the summary report at Appendix 1 were:

·       The overall borrowing requirement of the Council was £199.363m at 31 March 2025.

·       The PWLB debt was £161.300m at 31 March 2025.

·       Effective internal borrowing was £38.063m at 31 March 2025.

·       New PWLB borrowing of £25.0m was undertaken in 2023/24.

·       Repaid PWLB debt in year of £6.509m.

·       PWLB interest paid in year was £5.431m.

RESOLVED that the outturn position in respect of the 2024/25 financial year be noted.

REASONS FOR DECISION - The Council operated in line with its agreed Treasury Management Strategy during the 2024/25 financial year. This ensured that lending and borrowing arrangements were prudent and sustainable, minimising the risk of financial loss to the Council. Effective management of these arrangements ensured that interest costs during the year were minimised to assist the Council’s revenue position whilst interest receivable increased slightly above budget due to increased interest rates.

OTHER OPTIONS CONSIDERED AND REJECTED - This report was primarily a factual report detailing the actual position against the Council’s previously approved treasury management strategy. Accordingly, the report does not set out any options where a decision is required by Members.