Issue - meetings

The 2024/25 Treasury Management, Capital and Investment Strategies Report is to be presented to the Panel for comments.

Executive Councillor: B Mickelburgh

By means of a report by the Director of Finance and Corporate Resources (a copy of which was appended in the Minute Book), the 2024/25 Treasury Management, Capital and Investment Strategies Report was presented to the Panel.

Councillor Blackwell commented that the forecasting by the Link Group contained within the report was much appreciated as was the detail surrounding the Council’s property investments. Councillor Blackwell also commented that references in the report to interest rates being high, should be taken in the context that in the past these rates would not actually have been seen as high.

Councillor Gleadow enquired whether Treasury training would be made available to Overview and Scrutiny members, following which the Panel were advised that the mechanics for this were being put in place and details would be communicated to the Panel after training providers (potentially Link Group and others) are contacted for their offer, and following this, a discussion at Treasury and Capital Management Group. It was anticipated that the training would also be provided to members of the Corporate Governance Committee.

Following an enquiry from Councillor Howell about the management of the properties within the CIS Strategy located outside the district, the Panel were assured that the team managed these long term investments and took into account a variety of risk factors to ensure both best value and protection for the Council.

In response to a question from Councillor Jennings surrounding the increase of values at the Rowley Arts Centre, the Panel heard that this was due to rents returning to more normal levels following the reduction that had been enforced during the COVID period. As rent levels are a key component in calculating the property valuations, the higher rents led to increased property valuations.

Following the discussion, it was

RESOLVED

that the comments of the Overview and Scrutiny Panel be passed to Cabinet for their consideration when making a decision upon the recommendations contained within the report.