Agenda item

The Treasury Management Six Month Performance Review is to be presented to the Panel.

With the aid of a report by the Head of Resources (a copy of which has been appended in the Minute Book) the Treasury Management Six Month Performance Review was presented to the Panel.

The key change since the last report was that the Bank of England base rate has increased which has made a difference to the rate of some loans the Council has.

A Member questioned the reasonableness of the 6-9% returns target on Commercial Investment Strategy (CIS) investments. The Panel was informed that the target is a guide and that a balance is struck between the risk of the investment and the return received. It was noted that the Council does have CIS investments which yield less than the target.

Following a question on only making investments within the District, Members were informed that the Council has sought extensive legal advice which confirmed that it can make CIS investments outside of the District boundaries; however there are greater tests to meet in order to demonstrate that the investment is worthwhile.

(At 7.55pm, during the consideration of this item, Councillor J M Palmer left the meeting and did not return.)