Issue - meetings

Councillor Brett Mickelburgh, Executive Councillor for Finance and Resources to present the Council’s Treasury Management performance for the period 1st April to 30thSeptember 2025.

To receive a report updating Members on the Council’s treasury management activity for the first 6 months of the year, including investment and borrowing activity and treasury performance.

Executive Councillor: B Mickelburgh

The Cabinet noted the treasury management performance included in the Treasury Management 6 Month Performance Review, for the first 6 months of 2025/26 and recommended the report to Council for consideration.

A report by the Financial and Treasury Accountant was submitted (a copy of which is appended in the Minute Book) updating Members on the Council’s treasury management activity for the first six months of the year, including investment and borrowing activity and treasury performance.

The Executive Councillor for Finance & Resource, Councillor Mickelburgh set out the report, noting that it played into the Finance Performance Report elsewhere on the agenda, as it set the scene nicely.

In response to questions from the Cabinet, the Executive Councillor for Finance & Resource, Councillor Mickelburgh stated that the Debt Management Office (DMO) allowed the Council to lend to fellow Councils and Government in a way that reduced costs to taxpayers/citizens because they did not have to go to the money markets in order to plug short term gaps. The Council had tended to stick to the DMO for that reason, and also partly because of risk and partly because the rates of return were currently strong. The previous review of the money market funds were looked at and there were concerns around the content of some of them; because of the situation with the DMO there had not been the motivation to go looking at those other funds because the DMO was giving what was considered to be a good return.

The Cabinet paid tribute to the Treasury Exchequer team and noted the significant amount of work in making the Council’s Treasury Management successful.

Whereupon, it was

RESOLVED

that the Cabinet noted the treasury management performance included in the Treasury Management 6 Month Performance Review, for the first 6 months of 2025/26 and recommended the report to Council for consideration.