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Recommended that Full Council:
1.   
Approve the attached Treasury Management Policy Statement
including the Treasury Management Strategy and Annual Investment
Strategy for 2025/26 be approved which includes:
i)     
The upper limit for principal sums invested for longer than 365
days contained in section 4.6 of the attached Treasury Management
Policy Statement
ii)   
The upper and lower limits on the maturity structure of
borrowing contained in appendix 5.1 of the attached Treasury
Management Policy Statement.
2.   
Note that there are no significant changes to the Treasury
Management Policy for 2025/26 compared to 2024/25
3.   
Approve that as set out in section 1.5 of the Treasury
Management Policy Statement, the Director of Finance and Resources
(Section 151 Officer) and officers nominated by him have delegated
authority to:
i)     
Invest surplus funds in accordance with the approved Annual
Investment Strategy
ii)   
Borrow to finance short term cash deficits and capital payments
from any reputable source within the authorised limit for external
debt of £1,105m (to be approved by the City Council on
25th February 2025)
iii) 
Reschedule debt to even the maturity profile or to achieve
revenue savings; and
iv) 
Buy and sell foreign currency, and to purchase hedging
instruments including forward purchases, forward options, and
foreign exchange rate swaps to mitigate the foreign exchange risks
associated with some contracts that are either priced in foreign
currencies or where the price is indexed against foreign currency
exchange rates.
4.   
Agree that the Director of Finance and Resources (Section 151
Officer) has the power to delegate treasury management operations
to relevant staff. 
5.   
Agree that the Chief Executive, the Leader of the City Council
and the Chair of the Governance and Audit and Standards Committee
be informed of any material variances from the Treasury Management
Policy when they become apparent, and that the Leader of the City
Council be consulted on remedial action (paragraph 1.2.2 of
Treasury Management Policy Statement).