Issue - meetings
SSDC Investment Strategy 2019/20
Meeting: 07/02/2019 - District Executive (Item 119)
119 SSDC Investment Strategy 2019/20 
PDF 155 KB
Additional documents:
Decision:
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RESOLVED: |
That District Executive reviewed and recommended that the Full Council approve the Investment Strategy for 2019/20. |
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Reason: |
The Investment Strategy must be approved by Full Council by 31 March each year in line with regulations. |
Minutes:
The Portfolio Holder for Finance and Legal Services introduced the report and advised the strategy would be reviewed annually. There was Member involvement in the decision making and the Leader of Council was informed of any risk.
In response to a question, the Section 151 Officer and Director for Income Generation confirmed the net yield figure was intended to introduce an element of transparency in the Council’s investments. This was the net contribution to the revenue budget after accounting provisions and sinking funds. The Council’s balance sheet was increasing in value and a 3.6% return was verygood in the current market conditions.
The Portfolio Holder for Income Generation confirmed that the investment in housing in Marlborough would produce an income from April onwards and the battery storage project was not yet on-line.
At the conclusion of the debate, Members were content to propose the SSDC Investment Strategy 2019/20 to Full Council for approval.
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RESOLVED: |
That District Executive reviewed and recommended that the Full Council approve the Investment Strategy for 2019/20. |
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Reason: |
The investment strategy must be approved by Full Council by 31 March each year in line with regulations. |
