Cllr. Fleming moved and Cllr. Mrs Davison seconded the recommendation of the Cabinet held on 9 February 2012 that Council approve the Treasury Management Strategy Statement set out in the report with the exception that the minimum long term credit rating in the 2012/13 creditworthiness policy be reduced to A. In moving the recommendation the Leader of the Council thanked the Finance Advisory Group and the Performance and Governance Committee for the work they had undertaken in developing the Strategy.

The report set out the Council’s policies for managing its investments and for giving priority to the security and liquidity of those investments.

Resolved: That the Treasury Management Strategy Statement set out in the report, with the exception that the minimum long term credit rating in the 2012/13 creditworthiness policy be reduced to A, be approved.