Issue - meetings

To recommend to Council the Treasury Management and the Capital Strategy for 2025/26

Referred the Treasury Management Strategy for 2025/26 as set out in appendix A of the report to Full Council.

Noted the £6.504m of Flexible Use of Capital Receipts proposals set out in section 5 of the report, which will be submitted to Full Council for approval in accordance with the Flexible Use of Capital Receipts directive.

Agreed the £2.4m of capital bids set out in section 6 of the report, with the investment supporting delivery of the Medium Term Financial Strategy.

Referred the Capital Strategy for 2025/26 (including increased pothole funding of £0.8m) set out in appendix B of the report to Full Council.

Noted the Prudential Indicators for the period 2023/24-2027/28 in appendix C of the report; and referred the indicators to Full Council.

Noted the arrangements for determining the Minimum Revenue Provision for 2025/26 as set out in appendix D of the report; and referred the arrangements to Full Council.

The Cabinet Member for Finance, Resources, and Social Value presented the report. Regarding Capital Strategy, she stated that the report is requesting £6.5 million of capital resources to support activities that would generate revenue savings for the council. She added that the funds would come from the council's Strategic Asset Review. The capital program for 2025-26 amounted to £362 million, with £2.4 million allocated for capital bids to support service delivery and savings.

In Treasury matters, the Cabinet Member highlighted that there had been no increase in the council's risk profile. She indicated that recent economic events, including high borrowing rates and geopolitical uncertainties, were expected to challenge the council’s borrowing strategy. The Director of Resources confirmed that the authority had complied with all financial indicators and did not foresee difficulties in the future.

Resolved -

1.       That the Treasury Management Strategy for 2025/26 as set out in appendix A of the report be referred to Full Council.

2.       That the £6.504m of Flexible Use of Capital Receipts proposals set out in section 5 of the report, which will be submitted to Full Council for approval in accordance with the Flexible Use of Capital Receipts directive be noted.

3.       That the £2.4m of capital bids set out in section 6 of the report, with the investment supporting delivery of the Medium Term Financial Strategy be agreed.

4.       That the Capital Strategy for 2025/26 (including increased pothole funding of £0.8m) set out in appendix B of the report be referred to Full Council.

5.       That the Prudential Indicators for the period 2023/24-2027/28 in appendix C of the report be noted; and the indicators be referred to Full Council.

6.       That the arrangements for determining the Minimum Revenue Provision for 2025/26 as set out in appendix D of the report be noted; and the arrangements be referred to Full Council.