Report of the Deputy Chief Executive and City Treasurer attached

The Executive considered a report of the Deputy Chief Executive and City Treasurer, which set out the proposed Treasury Management Strategy Statement and Borrowing Limits for 2024/25 and Prudential Indicators for 2024/25 to 2026/27.

The Treasury Management Strategy Statement set out the risk framework under which the Council’s treasury management function would operate by detailing the investment and debt instruments to be used during the year the Strategy detailed the risk appetite of the Authority and how those risks would be managed.

The suggested strategy for 2024/25 was based upon the treasury officers’ views on interest rates, supplemented with the forecasts provided by the Council’s treasury advisor, Link Asset Services. The strategy covered:-

·                Prudential and Treasury Indicators for 2024/25 to 2026/27;

·                Impact of 2012 HRA reform;

·                Current Portfolio Position;

·                Prospects for Interest Rates;

·                Borrowing Requirement;

·                Borrowing Strategy;

·                Annual Investment Strategy; and

·                Non-Treasury Investments and Liabilities

The Executive noted the proposed Annual Investment and Borrowing Strategies set out in the report and agreed to commend them to the Council.

Decision

The Executive:-

(1)       Recommends the report to Council.

(2)       Delegates authority to the Deputy Chief Executive and City Treasurer, in consultation with the Executive Member for Finance and Human Resources, to approve changes to the borrowing figures as a result of changes to the Council’s Capital or Revenue budget and submit these changes to Council.