Agenda item

Report of the Chamberlain.

The Board received a report of the Chamberlain setting out the City’s Treasury Management Strategy Statement and Annual Investment Strategy for 2016/17. This report would go to the Finance Committee for approval before being presented to the Court of Common Council.

Members discussed the report, and noted the following points:

·         The only change to the Treasury Strategy for 2015/16 was the increase in the maximum investment loans with maturity in excess of one year from £200m to £300m, owing to the increase in the City’s overall cash holdings and the change to the Crossrail payment date.

·         The format of the Strategy was set by CIPFA; officers undertook to review the duplication of information in the Strategy for 2016/17.

·         To qualify for the Approved Counterparties list, an institution must meet the criteria set out at section 7 of the Strategy.

RESOLVED – That the Treasury Management Strategy Statement and Annual Investment Strategy for 2016/17 be approved and submitted to the Court of Common Council for formal adoption.