Issue - meetings

The Executive Member for Financial Sustainability submitted a report in respect of the Capital Strategy and Minimum Revenue Provision (MRP) policy and Treasury Management Strategy for 2024/25.

The Executive Member said that the due to cost of servicing existing and planned debt, the authority was not able to afford any new capital projects. He said that capital assets were being reviewed and the council was exploring ways to sell assets that could be sold to reduce the overall level of debt.

Members were advised that a cross party asset Member reference group had been set up to consider these options. The Executive Member invited Members to endorse the Treasury Management Strategy for 2024/25 or suggest improvements. Members received the report.

RESOLVED – that the Capital Strategy and Minimum Revenue Provision Policy and the Treasury Management Strategy for 2024/25 be noted and observations be made to the Executive.