Issue - items at meetings - Annual Investment Strategy 2012/13

Report of the Director of Finance (copy attached).

(1)               That the Annual Investment Strategy 2012/13 as set in Appendix 1 to the report be agreed; and

(2)               That the Annual Investment Strategy 2012/13 be recommended to Council for approval.

215.1    Councillor J. Kitcat introduced the report which detailed the Annual Investment Strategy for 2012/13 and recommended that it be agreed and submitted to the Council for approval.  He stated that in having regard to the current economic climate the number of institutions that could be used for financial investment was being reduced and officers were investigating whether other bodies which were not part of the credit rating scheme could be used.

215.2    Councillor G. Theobald welcomed the report and the work of the officers concerned in the financial management of the council’s investments.

215.3    Councillor Mitchell noted the report and asked if in future there could be details of which institutions were determined by officers as possibly being invested in.

215.4    Councillor J. Kitcat noted the comments and agreed to raise the matter with the officers.

215.5    The Chair then put the recommendations to the vote.

215.6    RESOLVED:

(1)         That the Annual Investment Strategy 2012/13 as set out in Appendix 1 to the report be agreed; and

(2)         That the Annual Investment Strategy 2012/13 be recommended to Council for approval.