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.