Decision details

The Cabinet had before it a report * of the Head of Finance regarding the proposed Treasury Management Strategy and Annual Investment Strategy for 2016/17.

The Cabinet Member for Finance outlined the contents of the report stating that the Council was required to receive and approve, as a minimum, three main reports each year which incorporated a variety of policies, estimates and actuals.  He outlined the deposits placed with various banks and requested that an increase in the amount of monies deposited with the CCLA be increased from £2.5m to £4m.

Consideration was given to the timescales for such an investment and the balance of reserves.

RESOLVED that

a)    the proposed Treasury Management Strategy and the Annual Investment Strategy for 2016/17,  including the prudential indicators for the next 3 years and the Minimum Revenue Provision Statement (Appendix 4),be approved;

b)    an increased investment in the CCLA as outlined in the report be approved.

(Proposed by Cllr P H D Hare-Scott and seconded by Cllr N V Davey)

Notes:

(i)           Cllr C J Eginton declared a personal interest as he received a pension from Lloyds Bank;

(ii)          Cllr N V Davey declared a personal interest as a member of the Royal Bank of Scotland pension scheme;

(iii)         *Report previously circulated; copy attached to the Minutes.