That it be noted that following recommendation regarding the Treasury Management Strategy 2024/25 would formally considered by the Audit & Corporate Governance Committee on 29th February 2024:
"Audit & Corporate Governance Committee is asked to recommend to Council the following:
a. Approve the Treasury Management Strategy (TMS) for 2024/25 at Appendix 1 including:
i. the Annual Investment Strategy for 2024/25 (within Appendix 1 page 23)
ii. the Annual Borrowing Strategy for 2024/25 (within Appendix 1 page 13)
iii. Minimum Revenue Provision Policy Statement for 2024/25 (within Appendix 1 page 33)
iv. the Prudential Indicators for the period 2024/25 to 2026/27 (Appendix 1 page 18)
v. the Capital Strategy for the 2024/25 (Appendix 1 page 17)"
The Cabinet noted that an updated version of the TMS would be provided to the Audit & Corporate Governance Committee which included the following additional indicators be incorporated within the Treasury Management Strategy.
· A £4m minimum level of HRA general reserve
· A £5m minimum level of Major Repairs Reserves
· A 1.25 times HRA interest cover ratio