Issue - meetings

Report of Assistant Director of Finance (Section 151 Officer)

Purpose of report

To provide information on treasury management performance and compliance with treasury management policy for 2025-26 as required by the Treasury Management Code of Practice.

To demonstrate that all treasury management activities undertaken during the reporting period complied with the CIPFA Code of Practice and the council’s approved Treasury Management Strategy.

Recommendations

The Audit and Governance Committee recommended this report to Council at its meeting on the 17 June 2026. 

Council resolves:

1.1         To note the contents of this Treasury Management Annual Performance Report and the Capital Prudential indicators (Appendix 1).

Resolved

(1)          That the Treasury Management Annual Performance Report 2025/2026 and the Capital Prudential indicators be noted.

Report of Assistant Director of Finance (Section 151 Officer)

Purpose of report

To provide information on treasury management performance and compliance with treasury management policy for 2025-26 as required by the Treasury Management Code of Practice.

To demonstrate that all treasury management activities undertaken during the reporting period complied with the CIPFA Code of Practice and the council’s approved Treasury Management Strategy.

Recommendations

The Audit and Governance Committee resolves:

1.1   To note the contents of this Treasury Management Performance Report and recommend it be received by Council.

Resolved

(1)        That the Treasury Management Performance Report – Outturn 2025/26 be noted and that Council be recommended to receive the report.

The Assistant Director Finance (S151 Officer) submitted a report which provided information on treasury management performance and compliance with the Treasury Management Policy for 2025-26 as required by the Treasury Management Code of Practice. The report also demonstrated that all treasury management activities undertaken during the reporting period complied with the CIPFA Code of Practice and the council’s approved Treasury Management Strategy.

In introducing the report, the Portfolio Holder for Finance advised that as at 31 March 2026 the Council had borrowings of £144M, with investments of £16M, which resulted in a net borrowing of £128M. This reflected a £16M decrease on the net borrowing position as at the end of March 2025 and was largely due to a £14.6M discount received from the Public Works Loan Board (PWLB) following the early repayment of a 50 year loan.

In response to a question relating to the rationale of borrowing from other Councils rather than using the PWLB whose rates seemed lower, the Head of Finance explained that the PWLB rates were no longer available and that other council lending rates were now better than the PWLB ones.

Resolved

(1)        That the Treasury Management Performance Report – Outturn 2025/26 be noted and that Council be recommended to receive the report.