Appendix 1 Corporate Summary - 24.09.2025

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There are 57 measures in the Council Plan, and in Q1 three departments had measures that were off target. p7

The Council's cash investment balances fell by 36% in one year, from £213.7m at Q1 2024/25 to £137.2m at Q1 2025/26, and the Treasury Management budget is currently forecast to underspend by £0.9m. p114p120

In Q1 the Council repaid a £6.45m Barclays Market Loan early, securing a £1m discount that generates a saving of around £100k to the Treasury Budget for 2025/26. p119

There were no changes to fees and charges during the quarter, and the value of debt aged over five months increased by £0.592m to £9.947m compared with the 2024/25 outturn position. p142p143

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• p7Measures off target by department There are 57 measures in the Council Plan. In Q1, 3 departments had measures that were off target.
• p1140 0 Treasury Management The Treasury Management Strategy (TMS), which provides the framework for managing the Council’s cash balances and borrowing requirement, continues to reflect a policy of ensuring minimum risk, whilst aiming to deliver secure realistic investment income on the Council’s cash balances. Cash investment balances as at 30 June 2025 have fallen by 36% in one year, from £213.7m at Q1 2024/25 to £137.2M at Q1 2025/26.
• p119In Q1 an opportunity was taken to repay a Barclays Market Loan with the assistance of Treasury Advisors (MUFG). A cost-effective early repayment of a £6.45m loan was agreed, securing an appreciable discount of £1m to the Council. The discount can be spread over a 10-year period in line with accounting regulations and generates a saving of around £100k to the Treasury Budget for 2025/26. The repayment was funded by cash on deposit held in liquidity accounts, the original maturity date of the Barclays Market Loan was October 2058. The Council’s external debt, totalling £200.1m at Q1, is held as long-term loans and now fully with the PWLB. No long-term borrowing was undertaken in Q1.
• p120The Treasury Management budget is currently forecasted to underspend by £0.9m.This is based on the position outlined above with regard to balances held and investment returns. A reduced in-year capital borrowing requirement alongside an ongoing strategy to delay borrowing in a falling interest rate environment has meant that the council has delayed new external borrowing; and returns on investments in year were greater than anticipated as the Base Rate did not fall as fast as originally anticipated.
• p142Changes to Fees & Charges There are no changes to fees and charges during the quarter.
• p143Outstanding debt analysis (£ millions) The value of debt aged over 5 months at Quarter 1 has increased by £0.592m to £9.947m compared to the 2024/25 outturn position of £9.355m.