Issue - meetings

To consider the report of the Assistant Director Finance.

Scrutiny Committee – Resources considered the report at its meeting on 27 January 2016 and its comments will be reported.

The report of the Assistant Director Finance was submitted which sought adoption by the Council of the Treasury Management Strategy Report, incorporating the Annual Investment Strategy 2016/17, as required under section 15(1)(a) of the Local Government Act 2003.

The Assistant Director Finance advised of the key issues for Members to consider which included approval to allow investments to be made in property funds as a long term commitment with the Local Properties Fund which was managed by the Churches, Charities and Local Authorities investment. There were no proposed amendments to the lending limits for UK owned banks or building societies or foreign owned banks that deal in sterling.

In response to a Member, the Assistant Director Finance stated that the Council had Financial Advisors who daily monitor the markets and would notify the Council should they have any concerns regarding the financial money markets. The Councils investments were spread across a number of the highest rated banks.

Scrutiny Committee – Resources considered the report at its meeting on 27 January 2016 and its comments were reported.

RECOMMENDED that Council adopt the new Treasury Management Strategy and delegations contained therein.

To consider the report of the Assistant Director Finance.

The Assistant Director Finance presented a report which sought Members’ approval for the adoption of the Treasury Management Strategy Report, which also incorporated the Annual Investment Strategy 2016/17, as required under Section 15(1) (a) of the Local Government Act 2003.The key sections were set out in paragraph 8.2, and the strategy for 2016/17, would include approval to allow investments to be made in property funds as a long term commitment with the Local Properties Fund (Managed by the CCLA investment which specialised in investment management for local authorities).

Scrutiny Committee - Resources noted the report, requesting that Executive recommend the adoption by Council of the new Treasury Management Strategy and delegations contained therein.