Issue - meetings

Treasury management outturn 2011/12

Meeting: 26/09/2012 - Audit and Governance Committee (Item 33)

33 Treasury management outturn 2011/12 pdf icon PDF 130 KB

To consider the head of finance’s report.  Reporting officer: William Jacobs 


Purpose: To ensure the adequate monitoring and reporting of the treasury management activities, and to advise Councillors of the performance of the treasury management function (the management of our investments) for the financial year 2011/12. 


Recommendation: to scrutinise the report to ensure that treasury management activities were carried out in accordance with the treasury management strategy and policy. 


The committee considered the head of finance’s report on the council’s treasury management performance (the management of investments) in 2011/12.  The committee was asked to scrutinise performance to ensure the treasury management activities had been carried in accordance with the treasury management strategy and to make any recommendations for changes to Cabinet. 


The committee noted that the officers had taken a decision under delegated authority to withdraw funds invested through the council’s investment fund manager, Investec.  The officers were able to invest funds in government-backed UK banks and achieve a better return that was above the budget estimate.  The increased return on investments would feed into the budget preparation for 2013/14.  In answer to a question from a councillor, the committee noted that the council had some funds invested with quick access to allow sufficient liquidity. 


RESOLVED: To note the report and thank the officers for their treasury management performance in 2011/12.