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Recommended Full Council agree:
1.   
That the upper limit for principal sums invested for longer than
365 days contained in section 4.6 of the attached Treasury
Management Policy Statement be approved.
2.   
That the upper and lower limits on the maturity structure of
borrowing contained in appendix 5.1 of the attached Treasury
Management Policy Statement be approved.
3.   
That the attached Treasury Management Policy Statement including
the Treasury Management Strategy and Annual Investment Strategy for
2024/25 be approved.
4.   
Note that there are no significant changes to the Treasury
Management Policy for 2024/25 compared to 2023/24.
5.   
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 £1,110m approved by the City Council on 13 February
2024
            
iii.        
reschedule debt to even the maturity profile or to achieve revenue
savings; and
           
iv.        
to 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.
6.   
That the Director of Finance and Resources (Section 151 Officer)
has the power to delegate treasury management operations to
relevant staff. 
7.   
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 1.2.3 of
Treasury Management Policy Statement).