Decision details

Report of the Director of Finance, Assets and Resources requesting agreement of the proposed Treasury Management Strategy and Annual Investment Strategy for 2017/18.

The Cabinet had before it a * report of the Director of Finance, Assets and Resources requesting agreement for the proposed Treasury Management Strategy and Annual Investment Strategy for 2017/18.

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 in various banks and requested that an increase in the amount of monies deposited with the CCLA be increased to £5m.  Consideration should also be given to investing £2m in the money market fund which gave flexibility and spread the risk.

RESOLVED that:

a) the proposed Treasury Management Strategy and Annual Investment Strategy for 2017/18,  including the prudential indicators for the next 3 years and the Minimum Revenue Provision Statement ( as outlined in Appendix 4),be approved;

b) The use of Money Market Funds, as outlined in paragraph 15.6 of the report be approved.

(Proposed by Cllr P H D Hare-Scott and seconded by Cllr R J Chesterton)

Notes:

a)         Cllr C J Eginton declared a personal interest in that he received a pension from Lloyds Banking Group;

b)          *Report previously circulated, copy attached to minutes.