This performance monitoring report on the Treasury Management Strategy:  Annual Report and Performance 2015/16 is submitted twice a year:

·         Dec 2015– the position at the 30 September 2015 (Half Year)

·         Sept 2016 – the position at 31 March 2016 (Full Year)

The Head of Finance submitted a report (previously circulated, now appended) which detailed the Treasury Management Strategy for 2015/16 together with the Prudential Indicators for 2015/16 to 2017/18.

Cllr Turner, Board Member for Finance, Asset Management and Public Health presented the report. He explained that because of the low interest rates, It was better for Council to invest in property rather than leave the money in the bank. Work on getting money back from Iceland was on-going.

The City Executive Board resolved to RECOMMEND that Council:

1. APPROVE the Treasury Management Strategy 2015/16, and adopt the Prudential Indicators 2015/16 – 2017/18 at paragraphs 8 to 37, and Appendix 2

2. APPROVE the Investment Strategy for 2015/16 and investment criteria set out in paragraphs 23 to 37 and Appendix 1.

3. APPROVE the Minimum Revenue Provision (MRP) statement at paragraphs 12 to 22 which sets out the Council’s policy on debt repayment.