Decision Maker: Cabinet

Outcome: Approved (subject to call-in)

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: July 10, 2025

Purpose: This report gives details of performance against the Council’s Treasury Management Strategy Statement 2024/25.

Content: (1)  To note the Treasury Management Report to 31st March 2025, prepared in accordance with the CIPFA Treasury Code of Practice.   (2)  To note the Treasury Management Indicators to 31st March 2025.

Reasons for the decision: The Council approved the 2024/25 Treasury Management Strategy at its meeting in February 2024.  The Council ended the year with total borrowing of £275.7m and total investments of £32.6m.   The Council’s Treasury Management Indicators for 2024/25 were agreed by Council in February 2024 and all indicators are within target levels.   The actual average rate of return on operational investments for the period 1st April 2024 – 31st March 2025 is 4.96%, which is 0.12% above the 7 Day SONIA benchmark rate of 4.84%. For the same period, strategic investments earned 4.25% which was in line the budgeted return of 4.25%.

Alternative options considered: None.