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It is a requirement of the Treasury Management Strategy and Investment Policy that was approved by the Police Authority on 18th November 2006 that a rolling three year borrowing and investment plan be reviewed and updated annually. These must be approved by the Police Authority.

Summary

The current borrowing and investment plan for 2007/08 to 2008/09 was agreed by the Finance Panel on 15th March 2007. The attached report, which was considered by the Finance and Performance Panel on 7th March 2007, presents an updated plan for the period 2008/09 to 2009/10.

Currently cash balances are invested with the County Council, who provide the Authority's Treasury Management function. SCC has achieved interest receipts of £1,456,406 in 2006/7 and forecasted receipts in excess of £1,800,000 for 2006/07.

Recommendations

Management are asked to:

Approve the updated Borrowing and Investment Plan for the period 2008/9 to 2009/10.

Agree that the Prudential Indicators agreed in February 2007 in relation to external debt and treasury management should remain unchanged

Agree that the Authority continues to invest all its surplus cash balances with Surrey County Council.