Issue - meetings

The Executive Member for Finance submitted a report which reviewed the Council’s 2012/13 Treasury Management Strategy and Prudential Code arrangements including the current position to 31 July 2013, the detail of which was set out in the report now submitted and within the Essential Reference Papers. 

The Head of Finance and Performance summarised the content of the report drawing Members’ attention to capital spending, levels of indebtedness, prudential and treasury indicators, the Council’s borrowing, investment activity and the low rates of interest offered and the challenges this placed on the Council. 

It was noted that Officers were currently exploring with SECTOR alternatives to the traditional investment vehicles and of the balance which needed to be achieved between investment opportunities, liquidity and security.

In response to a query from Councillor M Pope regarding investing in Corporate Bonds, the Head of Finance and Performance stated that this was an area which could be considered and that the Council was looking for innovative opportunities which still met the criteria of liquidity and security.  

The Chairman referred to the positive impact a small improvement could make to the Council’s investment returns, adding that the Council could explore adding to larger investment pots such as Hertfordshire County Council’s.

The Committee approved the report and noted the current year position at 31 July 2013.  Members further agreed that the Council should investigate the possible investment in Corporate Bonds.

RESOLVED – that (A) the 2012/13 Treasury Management and Prudential Indicator Outturn be approved;

(B)      the current year position to 31July 2013 be noted; and

(C)     Officers review the possibility of investing in Corporate Bonds.