Issue - meetings

Report of the Cabinet Member Finance and Assets

The Cabinet Member for Finance and Assets introduced the report and explained that the council safeguards funds on behalf of Cheltenham residents and in the best interests of the town. Treasury funds are used to deliver council services which are increasing in cost, whilst central government funding is reducing. Due to its careful management, treasury is also used to support discretionary initiatives, such as No Child Left Behind. The Cabinet Member wished to put on record her thanks to the officer team.

A Member commented that the No Child Left Behind initiative had helped over 7000 children in the borough and sound treasury management had facilitated this. Officers were commended on their work. In response, the Cabinet Member for Finance and Assets stated that she was pleased that the council can support those children and families facing financial restraint. 

RESOLVED (unanimously) THAT

-       the contents of this summary report of the treasury management activity during the first six months of 2024/25 be noted.

Report of Cabinet Member for Finance and Assets, Councillor Alisha Lewis

RESOLVED THAT:

-       the contents of this summary report of the treasury management activity during the first six months of 2024/25 are noted.

The Cabinet Member for Finance and Assets said this fascinating report sets out how the council safeguards and invests taxpayers’ money to underpin the vital services it delivers, including No Child Left Behind and investment in Golden Valley to provide homes and jobs for Cheltenham’s future.  She is heartened that the strategy has weathered the storm of the last few years, and that CBC can start looking at recovery.  Our borrowing strategy is very carefully worked out, putting CBC in a strong place compared with other councils, and she thanked the officer team who lead on this work and keep finances on the straight and narrow with exciting and innovative ideas.

The Cabinet Member for Major Developments and Housing Delivery agreed, saying this is one of the most important documents produced by the council,  demonstrating what is being done with taxpayers’ money, and noting how hard the team works to be innovative, responsive and reactive in achieving the best rates and maintaining a strong overarching financial position.

RESOLVED THAT:

-       the contents of this summary report of the treasury management activity during the first six months of 2024/25 are noted.