This report updates Members on the activity of the Treasury Management function.

The Committee received a report on the activity of the Treasury Management function during the third quarter of the year for the period 1 October 2025 to 31 December 2025.  The report stated that the CIPFA Code of Practice for Treasury Management 2021 recommended that the Committee should be updated on treasury management activities at least quarterly.  The Committee was advised that there had been full compliance during this period with the Treasury Management Strategy Statement (TMSS), as agreed by Council on 27February 2024. 

The report had attached the MUFG Corporate Markets Economics Review of Quarter 3; Borrowing and Investment Portfolios; and the list of approved countries for investments.

It was reported at the meeting that, since publication of the report, Brighter Futures for Children Ltd had repaid to Reading Borough Council the £5m loan listed in Appendix 3 that had been given to the company at its commencement.

The Committee noted that, in the Investment Portfolio in Appendix 3, the table listed maturity dates, many of which had passed, and it was queried whether the new maturity dates which may have been renegotiated for investments should be included in the appendix instead.  It was explained that officers wanted to look at the best way of presenting the information to the Committee so that both the new dates and the fact that the original deadlines had passed, and that repayments in the terms originally agreed were overdue, were presented.  It was also reported that a number of the overdue repayments had been paid before the end of the financial year.

Resolved:      

(1)    That the Treasury Management Review Quarter 3 report for 2025/26 be noted;

(2)    That it be noted that officers would be reviewing the way that the investment portfolio figures were presented in Appendix 3 for future reports.