Minute with recommendations and report attached.

 The seventh item requiring approval was in relation to the Investment Strategy 2024/25.

On a motion by Councillor Paul Stuart, seconded by Councillor Jean Robinson it was –

Resolved – that the Investment Strategy for 2024/2025 which includes potential investment in the following activity areas be approved:

1. Commercial Property

2. Service Investments: Loans;

3. Service Investment: Shares (non-currently held); and

4. Loan Commitments and Financial Guarantees be approved

The Director of Finance presented the report and advised Members that In February 2018, the former Ministry for Housing, Communities and Local Government (MHCLG), (now Department for Levelling Up, Housing and Communities (DLUHC)) published updated ‘Guidance on Local Government Investments’.

The previous edition covered only Treasury Management investments. In recent years local authorities have had an increasing focus on commercial activities including but not exclusive to property. Such activity has the potential to bring both increased returns and increased positive and negative risk. The revised Guidance on Local Authority Investments required that a separate Investment Strategy focusing on non-treasury investments is produced and approved annually by Council. This report fulfilled the requirement of the DLUHC to produce an investment strategy that covers non-treasury activities.

Resolved – that Council be recommended to approve the Investment Strategy for 2024/2025 which includes potential investment in the following activity areas:

1. Commercial Property

2. Service Investments: Loans;

3. Service Investment: Shares (non-currently held); and

4. Loan Commitments and Financial Guarantees