1.         That the Quarter One Treasury Management Report for 2016/17, be approved.

2.         That it be noted that treasury management activities were carried out in accordance with the CIPFA (The Chartered Institute of Public Finance and Accountancy) Code of Practice for Treasury Management in the Public Sector during the period from April to June 2016.

3.         That it be noted that the loan and investment portfolios were actively managed to minimise cost and maximise interest earned, whilst maintaining a low level of risk.

4.         That it be noted that an average of £52.7m of investments were managed in-house. These earned £0.087m of interest during this three month period at an average rate of 0.66%. This is 0.30% over the average 7-day LIBID and 0.16% over the bank base rate.

5.         That it be noted that an average of £22.6m of investments were managed by an external fund manager. These earned £0.060m of interest during this three month period at an average rate of 1.07%. This is 0.71% over the average 7-day LIBID and 0.57% over bank base rate.

6.         That it be noted that an average of £13.6m was managed by two property fund managers. These earned £0.255m during this three month period from a combination of an increase in the value of the units and income distribution, giving a combined return of 7.87%.

7.         That it be noted that the level of borrowing from the Public Works Loan Board (PWLB) (excluding debt relating to services transferred from Essex County Council on 1^st April 1998) remained at the same level of £227.8m (HRA: £77.0m, GF: £150.8m) during the period from April to June 2016.

8.         That it be noted that during the quarter the level of financing for ‘invest to save’ schemes increased from £3.21m to £4.61m.