HBCReportMidyearTreasuryreport Audit

Committee report · Audit Committee · Thu 11 Dec 2025 · Hastings Borough Council · agenda item 7

What it recommends

In the report's own words. A recommendation is a proposal: the meeting can agree, change or reject it.

“Note the report, the treasury activity and recommend approval of any changes to the prudential indicators.”

What the meeting decided

The minutes record: Noted. “RESOLVED (unanimously): Note the report, the treasury activity and recommend approval of any changes to the prudential indicators. Reasons: To ensure that Members are fully aware of the activities undertaken in the last quarter, that the Codes of Practice have been complied with and that the Council's Treasury Management strategy is effective and does not need revising. Under the Code adopted the Full Council are required to consider the report and any recommendations made.” minutes ↗

In plain English

Each sentence was checked against the passage it cites; how the checking works.

Recommended · This went to the meeting on Thu 11 Dec 2025. What was decided is in that meeting's minutes.

This is a treasury management update report for 2025/26 quarter 2, presented to the Audit Committee. p1

The report recommends that the Committee note the report and the treasury activity, and recommend approval of any changes to the prudential indicators. p10 p11

The average level of funds available for investment during the first half of 2025/26 was £21.6m. p4

The weighted average return on the investment portfolio as at 30 September 2025 was 4.20%, against a budgeted investment return for 2025/26 of £1,178,000. p5 p7

The Council had outstanding external debt of £63.7m across 22 loans from the Public Works Loan Board, at an average interest rate of 2.81%, and undertook no borrowing during the quarter ended 30 September 2025. p8 p9 p189

Show the 9 passages this is based on

p1Report Template v30.0 Report To: Audit Committee Date of Meeting: 11th December 2025 Report Title: Treasury Management Update – 2025/26 Quarter 2 Report By: Paul Tutt - Corporate Accountant Key Decision: N
p4• The average level of funds available to Council for investment purposes during the first half of the financial year was £21.6m.
p5• The weighted average return of the portfolio as at 30th September 2025 was 4.20%.
p7• The Council’s budgeted investment return for 2025/26 is £1,178,000 with forecast performance for the year expected to slightly exceed budget.
p8• The Council has outstanding external debt of £63.7m comprising of 22 individual loans from the PWLB with an average rate of interest of 2.81%.
p9• No borrowing was undertaken during the quarter ended 30th September 2025.
p10Report Template v31.00 Recommendation(s)
p11Note the report, the treasury activity and recommend approval of any changes to the prudential indicators.
p189PWLB: Public Works Loan Board – this is the part of H.M. Treasury which provides loans to local authorities to finance capital expenditure.

Places and organisations it names

Hastings Borough Council

Other papers for this meeting

Audit Committee agenda · Committee agenda
Appendix 1 - Strategic Risk Report Nov 2025 · Committee report
Covering Report for External Audit Annual Findings Report 2024-25 · Committee report
HBC Covering Report Q2 2025-26 Progress Report · Committee report
HBC Quarter 2 2025-26 Progress Report Appendix A · Committee report
Hastings BC Auditors Annual Report 2024-25 - Final (add as supplementary) · Committee report
Hastings BC Auditors Annual Report 2024-25 v1.1 · Committee report
Minutes Public Pack, 09/10/2025 Audit Committee · Committee report
Audit Committee minutes · Committee minutes
Strategic Risk Report Nov 25 - Final · Committee report

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