Agenda and minutes

To receive any apologies for absence.

Apologies for absence were received from Councillors Daar, Glover-Ward and Goldspink.

To receive any announcements from the Leader of the Council.

The Leader reminded Members and Officers that the meeting was being webcast.

To approve as a correct record the Minutes of the meeting held on 1 October 2024.

Councillor Brittain proposed, and Councillor Dumont seconded a motion that the Minutes of the meeting held on 1 October 2024 be approved as a correct record and be signed by the Leader. On being put to the meeting and a vote taken, the motion was declared CARRIED.

RESOLVED – that the Minutes of the meeting held on 1 October 2024 be approved as a correct record and signed by the Leader.

To receive any Member(s) declaration(s) of interest.

There were no declarations of interest.

The Executive Member for Financial Sustainability presented the Annual Treasury Management Review 2023/24 which was required under CIPFA guidance to produce a report twice a year. The report gave the background on the external economic environment and of particular concern to the council was the 10 year gilt rate which had increased over the year. He said that the report also detailed the council’s borrowing which had increased from £31.5 million to £50 million and investments had fallen from £34.9 million to £30.4 million due to the need to fund the capital programme.

The Executive Member for Financial Sustainability amended the recommendation in the report which should read “That the Executive recommend to Council that the Annual Treasury Management Review 2023/24 be approved”.

Councillor Brittain proposed that the recommendations in the report be supported. Councillor Hoskin seconded the proposal.

Councillor Crystall said that the report had been discussed at Audit and Governance Committee and there were some corrections needed in some of the tables. He asked if this had happened.

Councillor Brittain said the majority of changes had been made.

The motion to support the recommendations having been proposed and seconded was put to the meeting and upon a vote being taken, was declared CARRIED.

RESOLVED – To recommend to Council that the Annual Treasury Management Review 2023/24 be approved.

To consider such other business as, in the opinion of the Chairman of the meeting, is of sufficient urgency to warrant consideration and is not likely to involve the disclosure of exempt information.

There was no urgent business.