Council considered a report from the Head of Financial Services which detailed the performance of the Treasury Management function for the six months to 30 September 2019.

Councillor Turner, the Cabinet Member for Finance and Asset Management, presented the report. He confirmed that the Council did not invest in fossil fuels.

During the debate Councillor Upton undertook to provide a written response to a question from Councillor Gotch regarding the possibility of saving money if the City Council was to share the use of Cherwell District Council’s new cemetery in Kidlington. Cllr Turner clarified that any such proposal would not be a treasury matter.

Councillor Turner moved the recommendations, which were agreed on being seconded and put to the vote.

Council resolved to:

1.          Approve the change of the Indirect Property Funds counterparty category to Pooled Investment Funds; and

2.          Note that the Council is considering investing in a Multi Asset fund instead of an Indirect Property Fund as was previously anticipated.