Decision details

To approve an Investment Strategy and the associated Governance Arrangements

1.         The Investment Strategy including the proposed process that will determine which investment opportunities come forward for decision by Cabinet be approved.

2.         The governance arrangements be approved and an Investment Advisory Board be established comprising four Cabinet Members supported by appropriate officers (including the Monitoring Officer and the Chief Finance Officer) who will consider individual investment opportunities and provide advice to Cabinet on investment decisions.

3.         The commencement of the procurement process for the appointment of an Investment Advisor or Advisors to provide advice to the Council be approved, with contract award being approved in line with the standard process.

4.         The development by the Strategic Director for Business Services of a full business case for the establishment of a Property Investment Company to be wholly owned by the County Council be approved for consideration at a future Cabinet meeting.

Reason for decisions

The Investment Strategy will provide a framework for investing in innovative solutions and opportunities that enable the council to maintain its financial resilience and increase income whilst providing effective services.

[The decisions on this item can be called in by the Council Overview and Scrutiny Committee]