Issue - meetings

Report attached.

The Committee received an update on the performance of the Treasury Management Strategy during quarter 4. Officers advised that the average level of funds available for investment purposes in quarter 4 was lower than in quarter 3 but this was as anticipated. For the fourth successive quarter the Council had achieved a higher rate of return than that budgeted for, earning an extra £0.275m.

With the UK Bank rate at just 0.25% the Council will face a challenge to achieve a reasonable yield in 2017/18. On the advice of the council’s Treasury Management advisors the Council will have to consider investing additional cash in secure liquid investments with duration exceeding 364 days. In addition, the S151 Officer would ensure that all for investments, security and liquidity was paramount, before yield.

The Council was in the process of reviewing its Treasury Management Strategy in the light of these challenges.

The Committee considered the detail of deposits as at 31^st March 2017 and questioned officers around these. Officers agreed to provide further information as requested.

The Committee noted the report.