Agenda item

Report of the Chamberlain.

The Chamberlain gave an overview of the Treasury Management Strategy Statement and Annual Investment Strategy for 2013/14, informing Members that the Corporation’s debt free status and cash on deposit would be revisited at a future Board meeting as per the Board’s earlier request.

The Board requested that a future report include the rationale for any cash levels held, with a distinction made between working capital and those potentially available for investment purposes. Members also requested clarification of the procedure for changing asset allocations and in particular, the role of the Investment Committee and the Resource Allocation Sub (Policy and Resources) Committee.

In reference to Appendix 5 (Approved Counterparties and Countries for Investments), Members asked that a more detailed analysis of the individual investments within the Money Market Funds be provided to the Board on a regular basis.

RESOLVED: That, subject to the addition of Japan at Appendix 6 (Approved Countries for Investments), the Treasury Management Strategy Statement and Annual Investment Strategy for 2013/14 be approved and submitted to the Court of Common Council for formal adoption.