Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
To seek agreement to proposed changes to the Council’s Treasury Management Strategy by expanding the range of types of investment which can be made.
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CABINET Treasury Strategy Update 16 September 2013
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1. |
That a core investment portfolio of £75 million as set out in the report, be established. |
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2. |
That a maximum exposure of £5 million in any one investment, from the portfolio established at 1, be agreed |
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3. |
That authority for the investment of monies from the portfolio established at 1., subject to the limitations agreed at 2, be delegated to the Corporate Director of Finance and Procurement in consultation with the Deputy Leader and Cabinet Member for Finance and Procurement. |
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REASON |
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1. |
In order that the Council may extend its investment portfolio to increase returns on investment |
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2. |
In order that the risk to the portfolio established be minimised |
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3. |
In order that investment opportunities can be taken in a timely manner as they arise. |
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ALTERNATIVE OPTIONS CONSIDERED |
Not amending the strategy and continuing to mange cash flow and investment as before was not considered to be a viable option in light of the increasingly poor returns on bank and other traditional investments. |
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CONFLICTS OF INTEREST |
None. |
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DISPENSATIONS GRANTED |
None. |
Publication date: 05/11/2013
Date of decision: 16/09/2013
Effective from: 08/10/2013