Decision details

Khadija Saeed, Head of Corporate Finance and Exchequer Services presented a review of the council's borrowing and investment activity undertaken from April to November 2024.

In response to questions, members were informed that:

·  There was a significant amount of borrowing due to mature in March 2025 and therefore the council's borrowing levels would reduce until the financial year-end, in line with the council's intention to reduce borrowing as much as possible until rates had stabilised.

·  In relation to the council's external treasury management advisors, the council followed its Procurement Rules to procure this service which helped to ensure value for money from the current three-year contract with Arlingclose. Arlingclose provided advice and oversight and were not involved in business as usual or transactional decisions.

·  The annual training session on treasury management, delivered by Arlinglose and with support from the council's treasury management team, would be arranged for after the election.

Resolved: That the review of treasury management activity, for the period April to November 2024, be noted.