1. That the Mid-Year Treasury Management Report for 2017/18, be approved.

2. That the revisions to the Minimum Revenue Provision Policy for 2017/18 and prior years as set out in Section 14 and in Appendix 3 of the submitted report, be approved.

3. That these revisions to the Minimum Revenue Provision Policy are applied retrospectively to 2016/17 and prior years as appropriate.

4. 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 September 2017.

5. 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.

6. That it be noted that an average of £46.9m of investments were managed in-house.  These earned £0.099m of interest during this six month period at an average rate of 0.42%.  This is 0.31% over the average 7 day LIBID (London Interbank Bid Rate) and 0.17% over the average bank base rate.

7. That it be noted that an average of £5.0m was managed by an enhanced cash fund manager.  This earned £0.012m during the six month period at an average rate of 0.48%.

8. That it be noted that an average of £15.2m was managed by two short dated bond fund managers.  This earned £0.078m during the six month period from a combination of an increase in the value of the units and income distribution, giving a combined return of 1.02%.

9. That it be noted that an average of £16.1m was managed by two property fund managers.  This increased in value by £0.845m during this six month period from a combination of an increase in the value of the units and by income distribution, giving a combined return of 10.47%.

10. 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 (Housing Revenue Account (HRA); £77.0m, General Fund: £150.8m) during the period from April to September 2017.

11. That it be noted that the level of financing for ‘invest to save’ schemes increased from £7.90m to £8.82m during the period April to September 2017.