Decision details

This report describes proposals for implementing an investment strategy to preserve and improve the financial and other resources available to the Council. The strategy aims to generate revenue income from capital investment, and adopts the principles incorporated in the Council’s corporate Asset Management Plan in respect of land and property transactions. However, as well as land and property, the strategy is open to other forms of investment opportunity to the extent that they support and promote other Council policies, plans and priorities.

To fund investment opportunities as they arise, the investment strategy will draw upon the newly established Investment Opportunities Reserve, supplemented by other available sources of internal and external finance, to the extent that it is necessary to realise approved investments.

The committee considered the report circulated with the agenda (copy attached to the official minutes).

Mrs H Belenger, Mr T Jackson and Mr P Harrison attended to take questions. Mr Ward confirmed that New Homes Bonus money had no conditions attached to its use and could be used to fund investments however the use of this reserve would be a matter for Council approval.

Officers confirmed that this Protocol would not impose restrictions on their ability to progress investment opportunities.

RESOLVED

That the committee endorses the broad principles as set out in Paragraphs 7 to 11 of the report as an overarching investment opportunities protocol, together with the Land & Property Sub-Strategy Investment Protocol at Appendix 1.

RECOMMENDED TO CABINET

That the Overarching Investment Opportunities Protocol, together with the Land & Property Sub-Strategy Investment Protocol be approved.