Decision details

A presentation was made to the committee by Mike Jensen, chief investment officer accompanied by George Graham, deputy county treasurer.

The report outlined the treasury management activities of the county council throughout 2012/13 and included:

-  A review of the economic conditions during 2012/13 and the impact on the county council's borrowing and lending activities.

-  Borrowing to finance capital expenditure.

-  Investment of cash balances

-  Monitoring of prudential indicators for 2012/13

-  An update on the recovery of the investment in Landsbanki hf.

Officers responded to a number or queries raised by the committee in relation to the recovery of the investment in the Icelandic Bank Landsbanki, the council's fixed term deposits, its credit rating and capital spending in 2013/14.

Resolved: - That the review of treasury management activities in 2012/13 as shown at appendix A to the report presented, be noted.