Decision
Analysis
outcome: Recommendations were approved by the Cabinet.
summary: The decision involves updating the Council's investment policy by increasing the limit on deposits placed with UK Banks and adjusting the proportion of principal loan repayments allowed to fall due in ten years.
topline: The Cabinet has decided to update the Council's investment policy and increase the limit on deposits placed with UK Banks.
reason_contentious: This issue may be contentious as it involves financial decisions that could impact the Council's investment strategy and borrowing flexibility.
affected_stakeholders: ["Council members", "Treasury", "UK Banks"]
contentiousness_score: 6
political_party_relevance: There are no mentions or implications of political parties or political influence on the decision.
URL: https://governance.enfield.gov.uk/ieDecisionDetails.aspx?ID=373
Decision Maker: Cabinet
Outcome: Recommendations Approved
Is Key Decision?: No
Is Callable In?: Yes
Purpose:
Content: DECISION: The Cabinet agreed to: Note the Treasury Outturn position for 2024/25. Recommend to Council an update to the Council’s investment policy by increasing the limit on deposits placed with UK Banks from £5m to £25m providing the counter party meets the minimum long term credit rating of A- consistent with the Council’s investment policy for Money Market Funds. Recommend to Council an increase in the proportion of principal loan repayments allowed to fall due in ten years from 45% to 50% to provide flexibility for new borrowing whilst maintaining the stability of the loan’s portfolio.
Date of Decision: June 11, 2025