RESOLVED to:
a) endorse the Treasury Management Strategy for 2018/19 as outlined in the report, with two recommendations to Cabinet. The Committee considered that the strategy does not have ambitious targets for getting a higher return on investments that could be achieved through a less cautious approach; and, the Committee resolved to investigate whether the Council should consider Environmental, Social and Governance (ESG) investments in the future. In addition, the Committee asked for the Strategy to be amended to reflect that during 2018/19 a review of the risks to Treasury Management resulting from Brexit will be undertaken. The Committee recommends that
i. the strategy be amended to clarify the intent to adopt a less cautious approach, with a more ambitious target stated for any return on investments.
ii. a paragraph be inserted to reflect the Committee will be investigating the impact of including Environmental, Social and Governance (ESG) investments in the future;
b) note that due to the early timing of this report, Prudential Indicators i to vi have not been included in Appendix A as they are dependent on updates to the 2018 capital programme. Full indicators will be included when the report is considered by Council in February.