Purpose

To approve the Treasury Management - Annual
Report 2023-2024 and Activity Monitoring Quarter One
2024-2025.

Content

That Council be recommended to note:
1.   
That the Council operated within the overall approved Prudential
and Treasury Management Indicators, and also within the
requirements set out in the Council’s Treasury Management
Policy Statement during 2023-2024.
 
2.   
That revenue underspends of £210,000 for the General Fund and
£1.9 million for the Housing Revenue Account (HRA) were
generated from treasury management activities in 2023-2024.
 
3.   
That the revenue implications of treasury management activities in
2024-2025 for the General Fund is currently forecast to be within
budget.  However, there are early
indicators that suggest there may be pressure on the HRA budget.
This would continue to be monitored and updates provided in future
reports.
 
That Cabinetnotes:
1.   
That the Council’s external borrowing increased by
£65.9 million during 2023-2024 due to repayment of five loans
and four new loans being taken out during the financial year to
support the capital programme.  So far
during quarter one of 2024-2025, one loan totalling £7.0
million has been repaid and new loans totalling £35.0 million
have been taken.