Decision details

The Assembly will be presented with an update on the Council's Treasury Management Strategy, the background to the treasury management decisions subsequently made and compliance with the Prudential Code Indicators and recommended to approve appropriate amendments to the Council’s Investment Strategy

Assembly received and noted this report introduced by the Divisional Director of Finance (DDF).

In response to a question from Councillor Carpenter in relation to the use of revenue resources to fund the capital programme, the DDF confirmed that he would write to her separately on this.

Assembly:

(i)  Noted the report, the treasury activity, the prudential indicators and risk study results; and

(ii)  Agreed to the following changes to the Council’s Investment Strategy, as detailed in section 6 of the report:

1.  Increase the limit on investment with Lloyds TSB from £30m to a maximum of 40% of the average monthly cash available to invest; and

2.  Set a fixed investment limit of £40m to be invested with Lloyds TSB after which all additional investment need to be invested in the Lloyds TSB call account.