Agenda and minutes

Apologies were received from Roger Chadwick and Deputy Henry Pollard.

Deputy Ken Ayers declared an interest in Allenbridge Epic in relation to agenda item 11, and Tom Hoffman and Philip Woodhouse declared an interest in Ruffer.

To agree the public minutes and non-public summary of the meeting held on 9 December 2013.

RESOLVED: That the public minutes and non-public summary of the meeting held on 9 December 2013 be agreed as an accurate record.

Report of the Chamberlain.

The Corporate Treasurer advised that the only change to the 2014/15 Treasury Strategy was the reduction in the maximum investment of loans with a maturity in excess of one year from £300million to £200million. In addition it was proposed to continue to lend monies for up to three years’ duration when considered appropriate although at the present time we were restricting investments to three months. He further advised that in assessing creditworthiness, the City used a risk weighted scoring system. Members discussed the strategy, noting that potential deflation in the Eurozone was being monitored.

The Corporate Treasurer advised that it was best practice for Members to receive Treasury Management training and if Members agreed a short training session could be arranged for the May or June meeting. Members agreed that a short training session would be useful.

RESOLVED – That the Treasury Management Strategy Statement and Annual Investment Strategy for 2014/15 be approved and submitted to Court for formal adoption.

Report of the Chamberlain.

The Board received the monthly review from December 2013, which detailed the list of current investments.

There were no questions.

The Chairman advised the Board that this was the Chamberlain and Corporate Treasurer’s last meeting, and Members expressed their thanks and best wishes for the future.

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.

To agree the non-public minutes of the meeting held on 9 December 2013.

RESOLVED: That the non-public minutes of the meeting held on 9 December 2013 be agreed as an accurate record.

Report of Aon Hewitt.

Aon Hewitt presented a report on the Private Equity pipeline and selections.

Report of the Chamberlain.

The Chamberlain reported on the provision of Investment Advice.

There was one non-public question.

There was no other business.