Issue - meetings

Matt Sanham, Head of Finance and Procurement introduced the report and made the following comments:

·  This report summarised the treasury management activity and prudential / treasury indicators for the first quarter of 2024/25;

·  Part of the treasury management operation was to ensure this cash flow was adequately planned, with surplus monies being invested in low risk counterparties, providing adequate liquidity initially before considering optimising investment return.

·  The second main function of the treasury management service was the funding of the Council’s capital plans. These capital plans provided a guide to the borrowing need of the Council, essentially the longer term cash flow planning to ensure the Council can meet its capital spending operations;

·  This management of longer term cash may involve arranging long or short term loans, or using longer term cash flow surpluses, and on occasion any debt previously drawn may be restructured to meet Council risk or cost objectives;

·  The approved limits within the Annual Investment Strategy were not breached during the quarter ended 30 June 2024.

Councillor Donaldson proposed, Councillor Britcher seconded and members agreed that the following recommendation be forwarded to the next quorate meeting of the Governance & Audit Committee for confirmation:

To note the report.