| Item | Description | Resolution |
|---|---|---|
| PART 1 - PUBLIC | ||
| MATTERS FOR RECOMMENDATION TO THE COUNCIL | ||
| CB 09/075 |
Amendment to the Treasury Management Strategy Statement and Annual Investment Strategy for 2009/10 Item FP 09/065 referred from Finance and Property Advisory Board minutes of 30th September, 2009 |
Consideration was given to the recommendations of the Finance and Property Advisory Board at its meeting of 30 September 2009 regarding proposed amendments to the Treasury Management Strategy Statement and Annual Investment Strategy for 2009/10 in response to changing market conditions in order to improve the robustness of the Council's treasury arrangements. It was noted that the recommended approach had also been endorsed by the Audit Committee on 13 October 2009. RECOMMENDED: That (1) retrospective approval be granted in respect of investments made with UK banks which retained the implicit support of HM Government whilst their credit rating fell below the minimum stipulated in the Investment Strategy; (2) the counter party, group and sovereign ratings set out at Annex 1 to the report be adopted and incorporated in the Treasury Management and Investment Strategy for 2009/10; and (3) the amendments to the Specified and Non-specified Investment schedules to that Strategy, as set out at Annexes 2 and 3 to the report, be adopted. *Referred to Council |