Agenda item - Treasury Management Policy Statement (incorporating the Annual Investment Strategy) 2011/12 - End of year review

Extract from the proceedings of the Policy & Resources Committee meeting held on the 12^th July (to be circulated separately as part of an addendum at the meeting), together with a report of the Director of Finance (copy attached).

12.1         Councillor Littman introduced the report and stated that he wished to thank all the officers involved in putting the report together and their extraordinary work in managing the council’s financial affairs.

12.2         Councillor A. Norman stated that the officers worked within extremely challenging circumstances and she wished to pay tribute to their management and noted that the council’s finances were in good order.

12.3         Councillor J. Kitcat noted that the government required the council to ensure its investments were made at a minimal risk and that the number of institutions available for investment had reduced.  However, he was confident that officers were doing the best they could for the benefit of the council and he hoped that there would be an opportunity to expand the level of investments in the future.

12.4         The Mayor noted that the report had been moved and proposed that it be noted and the annual investment strategy approved.

12.5         RESOLVED: That the Annual Investment Strategy 2012-13 as set out in paragraph 4.11 of the report be approved.