Issue - meetings

Purpose: to present the treasury management strategy for 2015/16 to 2017/18. 

Cabinet considered the head of finance’s report that proposed the adoption of the treasury management strategy for 2015/16.  The strategy governs how the council invests the money it holds. 

The report proposed two changes to the current strategy:

1.    To add enhanced cash funds to the list of approved investment types.  Investment in such funds to be subject to counterparty lending limits as per table 5 in appendix A to the report. 

2.    To add certifications of deposit to the list of approved investment types.  Investment in such funds to be subject to counterparty lending limits as per table 5 in appendix A to the report. 

Cabinet noted that the Audit and Corporate Governance Committee had considered the report and supported the proposed strategy.  Cabinet was content with the proposed strategy also, as the proposed changes would increase the number of higher quality counterparties available to the council which could allow for further diversification of the investment portfolio. 

RESOLVED: to recommend Council on 19 February 2015 to

(a)       approve the treasury management strategy 2015/16 set out in appendix A to the head of finance's report to Cabinet on 12 February 2015;

(b)       approve the prudential indicators and limits for 2015/16 to 2017/18 as set out in table 2, appendix A to the head of finance's report; and

(c)       approve the annual investment strategy 2015/16 set out in appendix A (paragraphs 23 to 58) and the lending criteria detailed in table 5 to the head of finance's report.