Decision details

Cabinet considered the head of finance’s report on the performance of the council’s treasury management function during 2011/12.  Cabinet noted that during the year, the officers had taken a decision under delegated authority to withdraw investment funds from Investec, the council’s fund manager.  These funds were re-invested with government-backed UK banks, achieving a higher rate of return. 

The Audit and Governance Committee had also considered the report, and thanked the officers for their work during the year.  The committee had made no recommendations for adjustments to the treasury management strategy for next year.  Cabinet concurred with the committee’s views.  

RECOMMENDED: To Council to

(a)               approve the treasury management outturn report for 2011/12; and

(b)               approve the actual 2011/12 prudential indicators detailed in the report.