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 Financial Services submitted a report which presented the performance of the treasury management function for the 6 months to 30 September 2015.

The Head of Financial Services presented the report to the Board.  In consideration of the report the Board noted the following points:

·         That the average rate of return on investments was 1.23%, which was 0.23% above the performance target of 1%

·         Forecast investment income is down by £0.136 million, due to interest rates being lower than predicted

·         The merits of increasing investment in property should be looked at in the round

The City Executive Board resolved to:

1.     Note the performance of the treasury management function for the six months to 30 September 2015.