This report sets out the Council’s treasury management activity and performance for 2011/2012. It also sets out a proposed revision to the Treasury Investment Strategy for 2012/2013 -2015/2016 which will be recommended to Council in July.

The Board is being recommended to:-

v     Note the Treasury Management Annual Report for 2011/2012, as set out in sections 1 – 48 of the report;

v     Recommend to Council changes to the Treasury Investment Strategy as referred to in sections 49 – 54 of the report.

The Executive Director, Organisational Development and Corporate Services submitted a report (previously circulated, now appended).   The Chair of the Value and Performance Scrutiny Committee submitted a report (previously circulated, now appended) containing scrutiny comments on the Treasury Management report.

Resolved:-

(1)   Note the Treasury Management Annual Report for 2011/12 as set out in sections 1 - 48 of the report;

(2)   RECOMMEND Council to agree the changes to the Treasury Investment Strategy as referred to in sections 49-51 of the report;

(3)   To keep under review the effects of right to buy on the Housing Revenue Account Business Plan and to ask the Executive Director, Organisational Development and Corporate Services to report in the Autumn in the context of the Medium Term Financial Strategy review on the effects on the HRA Business Plan of right to buy take-up.