Minutes

Minutes of the meeting of the Resources Sub-committee held on 30 April 2009 at 10 Dean Farrar Street SW1H 0NY.

Present

Members

• Faith Boardman (Chairman)
• Reshard Auladin
• John Biggs
• Valerie Brasse.

MPA officers

• Ken Hunt (Treasurer)
• Peter Tickner (Director of Internal Audit)
• John Crompton (Committee Services).

MPS officers

• Paul Daly (Director of Exchequer Services)
• Paul James (Director of Finance Services)

Also attended Peter Morley, Treasury Management Consultant

31. Apologies for absence

(Agenda item 1)

Apologies for absence were submitted on behalf of Deborah Regal and Graham Speed

32. Declarations of interests

(Agenda item 2)

No declarations of interest were made.

33. Introductions

(Agenda item 3)

Noted.

34. Minutes of the meeting held on 8 April 2009

(Agenda item 4)

Resolved That the minutes of the Resources Sub-Committee held on 8 April 2009 be agreed and signed as a correct record.

35 Treasury management 4th quarter

(Agenda item 5)

A report was submitted which invited members to review Treasury Management activity for the period 1 January to 31 March 2009.

Members noted that the format of the report had been amended since the last quarter following comments made by members.

Members indicated that as part of the quarterly monitoring report there should be a statement from the officers which provided an opinion on performance in relation to the current strategy. To provide more effective scrutiny members also felt that the Sub-Committee should consider the annual Treasury Management Strategy before it is considered by the Finance and Resources Committee.

Resolved – That

1. the report be noted;
2. Future monitoring reports to contain a statement on performance in relation to the Strategy; and
3. The annual Treasury Management strategy be considered by the Sub-Committee prior to its submission to the Finance and Resources Committee.

36. Exclusion of press and public

(Agenda item 6)

Resolved - That under section 100A(4) of the Local Government Act 1972 the press and public be excluded from the meeting for the following items of business on the grounds that they involved disclosure of exempt information as detailed in paragraph 3 of Schedule 12A to the above Act.

Summary of decisions made on exempt items

37. Treasury Management Training

(Agenda item 7)

The Sub-Committee received a presentation.

38. Exempt Appendix to Treasury Management 4th Quarter

(Agenda item 8)

The Appendix was noted.

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