Issue - meetings

To receive a report from the Corporate Director of Finance & Resources detailing the outturn for the Council’s 2024-25 Treasury Management Activities.

Members are asked to note that this report was received and noted by the Audit & Standards Advisory Committee on 23 July 2025 and is due to be considered Cabinet on 8 September 2024 and has been forwarded to Council in in accordance with the Chartered Institute of Public Finance and Accountancy's Treasury Management in the Public Services: Code of Practice.

As the final item of business on the agenda, the Mayor then invited Councillor Mili Patel, as Deputy Leader and Cabinet Member for Finance & Resources, to introduce a report from the Corporate Director of Finance and Resources updating members on the Council’s Treasury Management Activity during 2024 - 25.

In introducing the report, the Deputy Leader felt it important to recognise Brent’s ongoing commitment to financial transparency and scrutiny and importance of the Treasury Management function in managing and planning for the level of funding required to support the Council’s activities, services and affordability of the capital programme.  In noting that the Council was only able to borrow for capital investment and not to fund operational day-to-day expenditure or offset the increasing pressures being experienced across Council budgets members were also advised of the careful financial stewardship and activity being undertaken to optimise the effect of borrowing costs and investment income whilst managing the associated risks in line with the Council’s Treasury Management Strategy and Prudential Indicators.

The opportunity was also taken to highlight the Council’s continued commitment, as part of the approach outlined, to borrowing in as prudent and sustainable a way as possible to deliver on infrastructure projects for residents, without compromising the longer-term stability of the debt portfolio with officers thanked for their support in providing clear direction around the Treasury Management activity.

The Mayor thanked Councillor Mili Patel for introducing the report and as no other members indicated they wished to speak and no need was indicated to exercise a right of reply, then moved to put the recommendations in the report to the vote which were declared CARRIED.

Council therefore unanimously RESOLVED to note and approve, following its consideration by Audit & Standards Advisory Committee on 23 July 2025 and Cabinet on 8 September 2025, the 2025 - 25 Treasury Management outturn report in accordance with the Chartered Institute of Public Finance and Accountancy's Treasury Management in the Public Services: Code of Practice.