Agenda item

Monthly Investment Analysis

Report of the Chamberlain


The Board received a report of the Chamberlain concerning the monthly investment analysis review for September 2018. The Board noted the current investment list, total investment values and average rate of return set out in the report.


A Member asked for an update on the loan to Northamptonshire County Council, which had been due to mature in January 2019. The Chamberlain responded that the loan had been repaid on time, with interest.


In response to a query from a Member, the Chamberlain explained that business rates were paid in over ten months, and were paid out to central government over twelve months in scheduled, equal payments. As a result, cash balances were lower for a period during the year as funds continued to be paid out when they were not also being collected.


The Chamberlain advised the Board that the maximum amount for lending to banks could be reviewed and changed if it was the will of the Board. The Board noted that as the City Corporation’s bank, the maximum amount for Lloyd’s was higher to give necessary flexibility with regards to cashflow. Building societies were considered on the basis of their balance sheet rather than their long-term rating, and were given a maximum amount of £20 million and maximum loan duration of one year, apart from Nationwide, which was allocated a higher maximum amount and longer loan duration because of its size. The Board noted that the long-term ratings set out were attributed by Link Asset Services.


RESOLVED – That the report be noted.

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