Issue - meetings

This report outlines the treasury management strategy for 2024/25, which includes prudential indicators for 2024/25 to 2026/27, the minimum revenue provision (MRP) policy, and the investment and borrowing strategy. It is a legislative requirement that these items be approved by Full Council.

The Advisory Group received a report outlining the treasury management strategy for 2024/25, which includes prudential indicators for 2024/25 to 2026/27, the minimum revenue provision (MRP) policy, and the investment and borrowing strategy.

Following consideration of the report’s contents, the Group discussed the following points:

·                That the increase in external debt in 2024/25 is included to reflect the maximum borrowing the Council could undertake in line with its property investment strategy and is included to ensure the Council’s operational boundary and authorised debt limits are agreed at a sufficient level to allow for any further property acquisition opportunities that may arise. Any potential acquisitions would still be subject to further assessment and scrutiny procedures.

·                Opportunities for choosing sustainable investment options.

·                Whether any countries should be removed from the Approved Countries for Investments list in section 7 of the strategy. It was proposed that Abu Dhabi (UAE) and Qatar be removed.

Following the discussion, the Group moved to consider the report recommendations, which were agreed as follows:

(1)  Recommend to Full Council that the treasury management strategy, which includes the following, be approved:

1.1. the treasury management strategy and the treasury prudential indicators contained therein;

1.2. the capital prudential indicators and limits;

1.3. the borrowing strategy contained within the treasury management statement;

1.4. the annual investment strategy;

1.5. the minimum revenue provision policy statement;

1.6. the treasury management practices.

(2)   Agreed to advise that Abu Dhabi and Qatar should be removed from the list of approved investable countries at section 7 of the treasury management strategy.