Decision details

Treasury Management Strategy and Annual Investment Strategy Mid-Year Review Report 2024/25 (F&R39)

Decision Maker: Cabinet

Decision status: For Determination

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

This report provides Cabinet with a mid-year review of the Council’s Treasury Management Strategy Statement and Annual Investment Strategy for 2024/25, approved by Council on 22 February 2024, and has been prepared in accordance with the CIPFA Code of Practice for Treasury Management in the Public Services (revised 2021).

Decision:

The Cabinet has considered the Treasury Management Strategy and Annual Investment Strategy Mid-Year Review Report 2024/25 and has agreed to recommended that the Council Meeting:-

 

(1) Note the report and the treasury activity in the first half of the financial year.

 

(2) Approve and note the Treasury Management Strategy, Annual Investment Strategy and Minimum Revenue Provision Policy for 2024/25 approved in February 2024, will continue to be followed considering the forecasts and conclusions set out in the report.

 

(3) Note the revised interest rate forecasts for Bank Rate and PWLB rates over the short and medium-term, which will drive the council’s long-term borrowing strategies going forward.

Alternative options considered:

None.

Interests and Nature of Interests Declared:

None.

Reason Key: Policy Framework & Budget;

Wards Affected: (All Wards);

Equality and/or Environmental Impact Assessment: An Equality Impact assessment was undertaken in the Treasury Management Strategy Report for 2024/25 that went to full Council on 22 February 2025. This is a mid-year update on that Strategy.

Decision Reference: CAB498

Declarations or conflicts of Interest: None.

Forward Plan Reference: F&R39

Other reasons / organisations consulted

CRMG were consulted on 21.11.23 prior to the formulation of the Treasury Management Strategy for 2024/25.

Contact: Lorna Soufian, Corporate and Support Services Email: lorna.soufian@stockport.gov.uk Tel: 0161 474 4026.

Report author: Lorna Soufian

Publication date: 11/12/2024

Date of decision: 10/12/2024

Decided at meeting: 10/12/2024 - Cabinet

Accompanying Documents: