Decision status: For Determination
Is Key decision?: No
Is subject to call in?: No
The Council considered a report which advised that the Council has significant balances which are invested in accordance with its Annual Treasury Management Strategy. The Council considered the request for two amendments to the strategy to allow for a greater flexibility when making investment decisions in the current economic environment.
The Council agreed to:-
a) Amend the investment limit for term deposits with UK Banks from £10m to £15m.
b) Amend the maximum duration that a deposit can be made with other local authorities or public bodies from 1 year to 2 years.
(Ref: Report by the Head of Financial Services dated 22 August 2019, submitted)
Publication date: 27/09/2019
Date of decision: 26/09/2019
Decided at meeting: 26/09/2019 - Argyll and Bute Council