Agenda and minutes

Apologies for absence were received from Anne Fairweather and Deputy Philip Woodhouse. Apologies for lateness were received from Alderman Robert Howard and Alderman Prem Goyal.

There were no declarations.

To agree the public minutes and non-public summary of the meeting held on 30 June 2021.

RESOLVED - That the public minutes and non-public summary of the meeting held on 30 June 2021 be agreed as a correct record.

Report of the Town Clerk.

There were no public outstanding actions.

Report of the Chamberlain

The Board received a report of the Chamberlain providing a summary of the City of London Corporation’s treasury management portfolio (investments) as at 31 July 2021. The Chamberlain introduced the report and drew Members’ attention to the key points. The Board noted that cash balances had increased by £200 million during the reporting period due to the proceeds of private placement borrowing agreed for City’s Cash.

In response to a question from a Member regarding a recent investment with Helaba, the Chamberlain advised that in assessing the suitability of the counterparty’s inclusion on the Corporation’s approved lending list, security and liquidity had been prioritised in accordance with the Treasury Management Code of Practice. The Chamberlain added that whilst bespoke ESG analysis of counterparties had not been undertaken on this occasion, consideration should be given to building this into the treasury management processes. With regards to asset allocation, the Chamberlain advised that this would be driven be security and cashflow requirements.

RESOLVED – That the report be noted.

Report of the Chamberlain

The Board received a report of the Chamberlain outlining the Treasury Management Outturn for 2020/21. The Chamberlain introduced the report, advising that the report was one of three reports required on an annual basis in accordance with CIPFA’s Code of Practice on Treasury Management, and outlined treasury activities during the last financial year.

RESOLVED – That the report be noted.

There were no questions.

There was no other business.

MOTION - That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part I of the Schedule 12A of the Local Government Act.

RESOLVED - That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part I of the Schedule 12A of the Local Government Act.

Item No.                                                          Paragraph(s) in Schedule 12A

10 - 14                                                                                     3

15 - 16                                                                                     -

To agree the non-public minutes of the meeting held on30 June 2021.

RESOLVED - That the non-public minutes of the meeting held on 30 June 2021be agreed as a correct record.

Report of the Town Clerk

The Board received a list of non-public outstanding actions.

Report of the Chamberlain

The Board considered a report of the Chamberlain.

Report of Mercer

The Board received a report of Mercer.

Report of the Chamberlain

The Board received a report of the Chamberlain.

Report of the Chamberlain

The Board received a report of the Chamberlain.

Report of the Chamberlain

The Board received a report of the Chamberlain.

Report of the Chamberlain

The Board considered a report of the Chamberlain.

There were no non-public questions.

There was other business.