This report summarises the Council’s investment activity up to 30 September 2017 and provides details of the Council’s money market transactions.
Under the Code of Conduct that governs the operation of the money markets, it is not possible to make public details of specific transactions. For this reason, Appendix B is included in the confidential part of the agenda.
This report gives the Executive the opportunity to review the treasury management activity up to 30 September 2017 along with the Treasury and Prudential Indicators. During the first half of the year the Council operated within the Treasury and Prudential Indicators.
Council borrowing at 30 September was £42.3m and the overall investment position is set out in the following table:
Investments |
Externally Managed £m |
Internally Managed £m |
Call Accounts £m |
Money Market Funds £m |
Total £m |
At 1 April 2017 |
3.0 |
6.0 |
0.0 |
6.0 |
15.0 |
New |
0 |
10.0 |
10.4 |
32.0 |
52.4 |
Repaid |
3.0 |
9.0 |
8.4 |
35.8 |
56.2 |
At 30 Sept 2017 |
0.0 |
7.0 |
2.0 |
2.2 |
11.2 |
This compares to the same time last year where total borrowing was £42m and the total investments were £31m.
From January 2018, the Council will need to maintain investments of £10million to retain its current MiFID ‘professional’ status and have access to the same broad range of investment products.
Decision type: Non-key
Decision status: Recommendations Approved
: Finance Strategy;
Decision due: 6 Nov 2017 by Executive
Lead member: Executive Member for Policy & Resources
Lead director: Director of Finance & Resources
Contact: Caroline Hancock Email: chancock@fareham.gov.uk.