Decision details

A presentation was made to the committee by Mike Jensen, chief investment officer on a review of the county council's treasury management activities during the current financial year to the end of August and included:

-  A review of the economic conditions during 2014/15

-  An assessment of the appropriateness of treasury strategy within the current and predicted economic environment

-  Borrowing activity

-  Investment activity

-  Actual results measured against 2014/15 prudential indicators and treasury management indicators

-  Investment in Landsbanki update

Officers responded to questions raised by the Members in relation to the investment in the Icelandic Bank, Landsbanki ls. The committee was assured that  the bank would be required to pay interest on the council's deposit and that the developments in the bank's winding up process would be closely monitored by the county treasurer.

Details of the treasury management activities were presented at appendix A.

Resolved: That the review of treasury management activities for the period 1 April to 31 August 2014 shown at appendix A to the report now presented, be noted.