Issue - meetings

The Cabinet considered the report of the Director of Regeneration and Communities regarding the Treasury Management Strategy 2014/15, including the Treasury and Prudential Indicators.

RESOLVED to RECOMMEND to COUNCIL:

1.  That the Treasury Management Strategy 2014/15 be adopted.

2.  That a review be undertaken at mid-year of the use of foreign banks for last resort, short term investments.

The Committee considered the report of the Director of Regeneration and Communities regarding the draft Treasury Management Strategy for 2014/15, including the Treasury and Prudential Indicators.

The Head of Finance and Resources explained that the recommended changes to be proposed were:-

·  Increasing the maximum duration limits with some part-nationalised groups to 2 years from 1 year;

·  Invest up to £m of ore cash for over 1 year if rates were to improve, maybe using property funds; and

·  Consider the use of core cash during 2014/15 for internal borrowing if not used for longer term investments;

Members asked questions of the Head of Finance and Resources regarding, inter alia, investing through Kent County Council, how interest is paid, rates of interest, the type of investments.

RESOLVED: That the Cabinet be recommended to agree the draft Treasury Management Strategy for 2014/15, as set out in the report of the Director for Regeneration and Communities, for submission to the Council.