Bexley Council has reported a £2.712m income from its treasury investments for the financial year 2024/25. The income was generated by Money Market Funds (MMFs) which contributed £2.378m, fixed term deposits which contributed £0.013m and pooled property funds which contributed £0.321m. The Annual Treasury Management Outturn Report 2024/25 was presented at the General Purposes and Audit Committee meeting on 30 July 2025.
The council's treasury management activities and performance against targets were noted at the meeting. According to the report, the council's treasury management debt and cash investment position is managed to ensure adequate liquidity for revenue and capital expenditure, security of capital for investments and to manage risks within all treasury management activities.
During the 2024/25 financial year, the council made total debt repayments of £2.731 million, which comprised £2.700 million in fixed maturity loan repayments and £0.031 million in principal repayments on EIP loans. Interest payments totalled £7.586 million on its existing loan portfolio. The council's borrowing position as of 31 March 2025 was £230.615 million.
The council's treasury strategy maintains cash balances at an appropriate level to ensure sufficient daily liquidity. Surplus cash balances are kept in AAA-rated, low volatility money market funds (MMF), totalling £16.350m, and £5.239m in long term illiquid property pooled funds in pursuit of diversification and higher long term investment returns.
The council made a decision to redeem its funds from Lothbury at the point of termination to ensure that the council would receive its funds as early as possible to support Bexley's cashflow. The original investment amount in the Lothbury Property Trust was £6.032m. Following the termination of the fund on 30 May 2024, Bexley received £5.301m and is expected to receive further subsequent fund distributions on a monthly basis as and when the remaining properties in the fund are liquidated. The expected total return on that investment is not specified in the report.