Issue - meetings

Treasury management strategy - half year review

Meeting: 12/01/2011 - Audit and Governance Committee (Item 36)

36 Treasury management strategy - half year review pdf icon PDF 126 KB

To consider report 92/10 of the head of finance. 

Minutes:

The committee considered report 92/10 of the head of finance.  Following the loss of some funds invested in the Icelandic banks, the Chartered Institute of Public Finance and Accountancy (CIPFA) had recommended that the officers reported on progress mid-year.  Therefore, the report showed the results of monitoring the council’s treasury management activities against the strategy and set out performance against the prudential indicators. 

 

The committee questioned why the council used an in-house investment team as well as an external team.  Councillors noted that this spread risk over longer and shorter-term investments.  The in-house team obtained the best return on the council’s day-to-day cash flow.  Performance between the two teams varied year to year. 

 

RESOLVED

 

(a)               To note the treasury management mid-year monitoring report 2010/11; and

 

(b)       To confirm that the committee is satisfied that the treasury activities are carried out in accordance with the treasury management strategy and policy. 


 

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