Issue - items at meetings - Treasury Management Policy Statement (incorporating the Annual Investment Strategy) 2011/12 - End of year review

Report of the Director of Finance (copy attached).

(1)               That the action taken during the second half year to meet the treasury management policy statement and practices (including the annual investment strategy) be endorsed;

(2)               That it be noted that the maximum indicator for risk agreed at 0.05% has not been exceeded;

(3)               That it be noted the authorised limit and operational boundary set by the Council has not been exceeded; 

(4)               That the change in the Annual Investment Strategy 2012-13 as set out in paragraph 4.11 of the report be agreed and recommended  to full Council on 19^th July 2012 for approval.

26.1         The Director of Finance introduced the report and noted that there were three key issues in relation to the report concerning the end of year review for 2011/12, alternative investment options and the investment strategy which would be reported to full council for approval.

26.2         Councillor Littman welcomed the report and stated that he wished to thank the officers concerned for such a comprehensive report and their work during such uncertain times for financial institutions.

26.3         Councillor Ann Norman also welcomed the report and noted that officers provided an excellent service and managed the council’s finances to a high standard, noting that they had withdrawn funds from Icelandic banks just prior to the crash.  She also noted the ethical investments and welcomed the fact that the council was still investing in Barclays.

26.4         Councillor Mitchell stated that she wished to thank the officers for their work and for the report and noted that as it was going to full council the Labour & Co-operative Members would be abstaining from the vote at the present meeting.

26.5         The Chair noted the comments and put the recommendations to the vote.

26.6         RESOLVED:

(1)         That the action taken during the second half year to meet the treasury management policy statement and practices (including the annual investment strategy) be endorsed;

(2)         That it be noted that the maximum indicator for risk agreed at 0.05% has not been exceeded;

(3)         That it be noted the authorised limit and operational boundary set by the Council has not been exceeded; 

(4)         That the change in the Annual Investment Strategy 2012-13 as set out in paragraph 4.11 of the report be agreed and recommended  to full Council on 19^th July 2012 for approval.