Issue - meetings

Treasury Management and Investments Mid Year Review 2011/12

 

 

Meeting: 17/11/2011 - Council Meeting (Item 3)

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To consider a report of the Corporate Director for Corporate and Support Services.

Minutes:

The Executive Councillor (Finance) (Councillor Sue Derbyshire) submitted a report (copies of which had been circulated) detailing the mid-year performance of the Council's Treasury Management function for 2011/12, providing an update on developments in the economy during that period and detailing proposals to make minor revision to the Treasury Management Strategy in light of the changing economic circumstances.

 

RESOLVED – (1) That the Treasury Management and Investments Mid Year Review 2011/12 report be received in line with best practice guidelines and that the treasury activity for the first half of the financial year be noted.

 

(2) That approval be given to the changes in the investment criteria of Moody’s cited in paragraph 11.13 and 11.15 and of Fitch as detailed in paragraph 12.6 of the report.

 

(3) That the expected impact of the housing reform proposals on the capital and treasury plans be noted.

Meeting: 07/11/2011 - Executive (Item 13)

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To consider a report of the Executive Councillor (Finance)

 

The report informs the Executive on the mid-year performance of the Council's Treasury Management function for 2011/12 and provides an update on developments in the economy during that period.

 

A mid-year review of the Treasury Management Strategy Statement and Annual Investment Strategy approved by Council on 24 February 2011 has been undertaken. In light of changes to counterparty ratings announced by two of the main rating agencies changes to the Council's creditworthiness policy are proposed. The amendments to the Council’s creditworthiness policy will be incorporated in the Treasury Management Policy Statement and this requires approval by full Council.

 

The report also outlines the anticipated treasury management implications of the government’s housing self-financing reform proposals.

 

The Executive is asked to:-

 

(i)           receive this report in line with best practice guidelines and note the treasury activity for the first half of the financial year;

(ii)         recommend to the Council Meeting that it approve the changes to the investment criteria of Moody’s cited in paragraph 11.13 and 11.15 and of Fitch detailed in paragraph12.6;

(iii)       note the expected impact of the housing reform proposals on the capital and treasury plans.

 

Officer contact: Lorna Salvage, 0161 474 4026, lorna.salvage@stockport.gov.uk

Minutes:

The Executive Councillor (Finance) submitted a report (copies of which had been circulated) informing the Executive Meeting of mid-year performance of the Treasury Management function for 2011/12, providing an update on developments in the economy during the period and detailing proposals to make minor revision to the Treasury Management Strategy in light the changing economic circumstances.

 

RESOLVED – (1) That the treasury activity for the first half of the financial year 2011-12 and the expected impact of the housing reform proposals on the capital and treasury plans be noted.

 

(2) That the Council Meeting be recommended to approve the changes to the investment criteria as detailed in paragraphs 11.13, 11.15 and 12.6 of the report.