Agenda item

Report of the Chamberlain.

The Board received the monthly review for September 2015, which detailed the list of current investments. The Chamberlain advised that the extension of the Investment List to include funds from Aberdeen and Santander was underway.

Members discussed the report, noting the following:

·         the large cash holding reflected the upcoming £200m Crossrail payment that was likely to made in June;

·         there were limits as to how much could be invested with each entity, and not all banks were looking to borrow money;

·         building societies were assessed on the criteria set out in the Treasury Management Strategy Statement and Annual Investment Strategy (TMSS & AIS);

·         the interest rates varied depending on the duration of the investment and when it was made; and

·         the TMSS & AIS was reviewed annually and the levels of cash held were continually monitored.

REOLVED – That a list of current investments ranked by entity rather than start date be provided periodically; and that the report be noted.