Issue - meetings

To consider a report of the Director of Finance, Assets and Resourcesinforming the Cabinet (and Council) of the treasury performance during the first six months of 2017/18,  requesting agreement of  the ongoing deposit strategy for the remainder of 2017/18 and a review of compliance with Treasury and Prudential Limits for 2017/18 (Appendix 1).

The Cabinet had before it a * report of Director of Finance, Assets and Resourcesinforming the Cabinet (and Council) of the treasury performance during the first six months of 2017/18,  requesting agreement of  the ongoing deposit strategy for the remainder of 2017/18 and a review of compliance with Treasury and Prudential Limits for 2017/18 (Appendix 1).

The Cabinet Member for Finance outlined the contents of the report stating that the UK bank interest rates still remained low; however the investment in the CCLA (Churches, Charities and Local Authorities) had proved beneficial with a 4.65% return for the first two quarters of the financial year.

Consideration was given to the slight increase in interest rates, both on short term and long term investments.

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

Notes: 

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

(ii)          *Report previously circulated, copy attached to minutes.