Agenda item

To receive the report of the RFO.

The Committee received and considered the report of the Responsible Financial Officer (RFO)

The RFO gave a verbal update to advise that a change in the investment strategy would allow the Town Clerk to consult with the RFO on the investment of funds, rather than the Chair of this Committee but any changes would be reported at the next available meeting.

In response to questions from members the RFO confirmed that the investments the council held were in a variety of accounts including a low-risk basket of investments managed by CCLA Investments who provide investment management principally to Charities, Church of England and the public sector. Statements showing current investments could be referred to this committee alongside payment of accounts in the future.

Members voted unanimously in favour of approval of the current investments and the proposed new Annual investment Strategy.

Resolved:

1.      That, the written and verbal report is noted and,

2.      That, the current investment in secure banks is approved, and,

3.      That, the revised Annual Investment Strategy is approved and,

4.      That, the RFO to provides a breakdown of where investments are held in future reports.