Issue - meetings

This report updates Members on Treasury activity for the first half of the financial year 2025-26. The Local Government Act 2003 and the Local Authorities (Capital Financing and Accounting) Regulations 2003 require that regular reports be submitted to the relevant Council Committee detailing the Council’s Treasury Management activities.

Members are asked to note that the report has also been subject to consideration and review by the Audit & Standards Advisory Committee on Wednesday 3 December 2025.

Cabinet RESOLVED:

(1)    To note the overall financial performance as detailed within the 2025-26 Mid-Year Treasury report and approve its referral on to Full Council in accordance with the Chartered Institute of Public Finance and Accountancy's Treasury Management in the Public Services: Code of Practice.

(2)    To note that the Council had been fully compliant with the prudential indicators as set by Council in February 2025.

Eligible for call-in: No (report and recommendations referred to Council)

Councillor Mili Patel (Deputy Leader and Cabinet Member for Finance & Resources) presented a report from the Corporate Director Finance & Resources updating on Treasury Management activity for the first half of the financial year 2025-26, which included the Council’s investment and borrowing activities and strategy.

In introducing the report, members were advised that as part of the Council’s ongoing commitment to financial transparency, the report included an update on the Council’s Treasury Management activities for the 2025-26 financial year including the Council’s borrowing and investment decisions, details on the Council’s borrowing requirement, cash investment balances and compliance with the Prudential Indicators enabling Brent to meet its financial obligations.

Members were reminded that as part of the approach outlined in terms of managing Treasury Management activity to support the Council’s overall financial position it was only possible to borrow for capital investment and not to fund operational day-to-day expenditure with the Borrowing Requirement reflecting the Council’s capital ambitions for both the General Fund and the Housing Revenue Account. As a result of the Council’s careful financial stewardship and compliance with Prudential Indicators, the Council had continued its ongoing approach towards the repayment of loans and investment in the Council’s capital programme, where possible, with the Council’s borrowing strategy recognised as continuing to address the key issue of affordability and sustainability to deliver on infrastructure projects for residents without compromising the longer-term stability of the debt portfolio.

Members welcomed the report and prudent approach outlined in terms of the Council’s Treasury Management activity to support delivery of the Council’s wider ambitions and priorities given the challenging economic context under which the Treasury Management Strategy was having to be delivered.

Having noted the assurance provided that the Council had fully complied with the Prudential Indicators set by the Council in February 2025 and thanked officers for their support in delivery of the Council’s Treasury Management strategy, Cabinet RESOLVED to note the overall financial performance as detailed within the 2025-26 Mid-Year Treasury report and approve its referral on to Full Council in accordance with the Chartered Institute of Public Finance and Accountancy's Treasury Management in the Public Services: Code of Practice.