To consider a report of the Executive Member for Finance and Director of Finance.

That the following elements be recommended to Council for approval:-

·      inclusion of the Local Authorities Property Investment fund into the current Investment strategy,

·      maximum duration funds can be placed in an investment instrument be extended from 3 years to 10 years however this extension only applies to monies placed in this fund,

·    maximum level of funds to be placed into this fund be set at £10m,

·   the Prudential indicator for Upper limit for sums invested over 364 days be  amended from £60m 2015/16, £60m 2016/17 & £50m 2017/18 to £70m 2015/16, £70m 2016/17 & £60m 2017/18 and a new category be incorporated under the existing Investment criteria as detailed at Appendix A to the report.

The Executive Member for Finance and Director of Finance submitted a report outlining a request for a new investment instrument to be added to those currently permitted to be used as outlined in the Council’s Treasury Management Strategy approved on 18 February 2015, to improve the potential for an increase in investment income to be generated.

RESOLVED – That the following elements be recommended to Council for approval:-

·      inclusion of the Local Authorities Property Investment fund into the current Investment strategy,

·      maximum duration funds can be placed in an investment instrument be extended from 3 years to 10 years however this extension only applies to monies placed in this fund,

·    maximum level of funds to be placed into this fund be set at £10m,

·   the Prudential indicator for Upper limit for sums invested over 364 days be  amended from £60m 2015/16, £60m 2016/17 & £50m 2017/18 to £70m 2015/16, £70m 2016/17 & £60m 2017/18 and a new category be incorporated under the existing Investment criteria as detailed at Appendix A to the report.