Decision details

The Cabinet Member with the Resources Portfolio introduced the report (previously circulated) of the Executive Director of Resources and Governance (previously circulated) requesting consideration be given to reviewing the Prudential Indicators and Limits for 2025/26 to 2027/28 relating to capital expenditure and Treasury Management activity; a policy statement relating to the Minimum Revenue Provision; and the Treasury Management Strategy 2025/26, which includes the Annual Investment Strategy for 2025/26.

The submitted report outlined the Council’s Prudential Indicators for 2025/26 to 2027/28; set out the expected treasury operations for that period; and reported that the expenditure plans, Treasury Management and Prudential Borrowing activities indicated that they were within the statutory framework and consistent with the relevant codes of practice, were prudent, affordable and sustainable and were an integral part of the Council’s Revenue and Capital Medium Term Financial Plans.

 RESOLVED - That it be recommended to the special meeting of Council scheduled to be held on Thursday 20 February 2025 that:-

(a)  the Prudential Indicators and limits for 2025/26 to 2076/28, as summarised in Tables 1 and 2 of the submitted report, be approved;

(b)  the Minimum Revenue Provision (MRP) statement, as detailed in paragraphs 39 to 48 of the submitted report, be approved;

(c)  the Treasury Management Strategy 2025/26 to 2027/28, as summarised in paragraphs 52 to 82 of the submitted report, be approved; and

(d)  the Annual Investment Strategy 2025/26, as contained in paragraphs 83 to 114 of the submitted report, be approved.

REASONS - (a)  In order to comply with the Prudential Code for Capital Finance in Local Authorities and the Ministry for Housing, Communities and Local Government (MHCLG) guidance on investments.

(b)  To comply with the requirements of the Local Government Act 2003.

(c)  To approve a framework for officers to work within when making investment decisions.