Issue - meetings
Treasury Management Update Report For Quarter Ending December 2017
Meeting: 29/03/2018 - Audit Committee (Item 4)
4 Treasury Management Update Report For Quarter Ending December 2017 PDF 252 KB
Additional documents:
- Appendix 2BT , View reasons restricted (4/2)
Minutes:
Neville Murton, Divisional Director for Finance, Procurement and Audit presented this report stating the report updated Members on the Treasury Management activity for the quarter ending 31st December 2017.
Mr Murton said Officers had met with the Council’s financial consultants – Arlingclose and the strategic portfolio at appendix 2 showed the types of funds the Council was looking to invest in and the proposed returns that could be achieved.
The proposed investments had been discussed with the Cabinet Member for finance and all paperwork had been prepared ready for sign off in April 2018.
A report will be coming back to the Audit Committee in the new municipal year on the progress made.
Members of the Committee made the following comments and asked questions in relation to the report:
· In reference to Page 156, point 3.7.2 it is good to see that the Council is being ambitious.
· The information in Table 5 is clearly displayed and should be adopted for other reports too.
Members of the Committee NOTED:
1. The contents of the treasury management activities and performance against targets for the quarter ending 31st December 2017.
2. The Council’s investments as set out in appendix 1. The balance outstanding as at 31st December 2017 was £467.8m, which includes £40m, pension fund cash awaiting investment; and
3. The list of selected pooled funds officers are considering for longer term investment as set out in appendix 2, and approve the approach for this strategic portfolio detailed in section 3.9