RESOLVED

1.    That the annual review of the London Borough of Merton’s 2019-20 Treasury Management Strategy be noted; and

2.    That full Council be recommended to approve the updated and increased Money Market Fund limits.

The Deputy Leader and Cabinet Member for Finance presented the report and thanked all the officers involved.  The recommendations would enable the Council to hold more funds and in the meantime earn interest on those funds which would help the Council’s financial position.

The Director of Corporate Services advised that the report would be considered by full Council and the establishment of a Money Market Fund would maximise income to the Council to reduce the impact of financial pressures on front line services.

RESOLVED

1.    That the annual review of the London Borough of Merton’s 2019-20 Treasury Management Strategy be noted; and

2.    That full Council be recommended to approve the updated and increased Money Market Fund limits.