Agenda and minutes

To receive any apologies.

It was noted that apologies had been received from Councillors J Baillie, McEwing, Pope and D Thomas.

Matters especially brought forward by the Mayor and the Leader.

(i)  The Mayor, on behalf of Council, welcomed Sandy Hopkins as the newly appointed Chief Executive to her first Council meeting. 

(ii)  The Mayor, on behalf of Council, wished Mel Creighton (Service Director, Finance and Commercialisation) and Sue Cuerden (Service Lead, Finance) best wishes for their futures as they take up new roles and paid particular thanks to the work they had both contributed to the Authority. 

To receive any requests for Deputations, Presentation of Petitions or Public Questions.

The Council received and noted a deputation from Adam Pearce, Sarah Richards and Penny Burnett on behalf of the Fair Funding for Schools Campaign. 

Report details the Medium Term Financial Strategy (MTFS) for the period 2019/20 to 2022/23 and provides the budget position for 2019/20 and later years for the General Fund and the Housing Revenue Account (HRA).

(4) The Revised Medium Term Financial Strategy and Budget 2019/20 to 2022/23

(5) The General Fund and Housing Revenue Account Capital Strategy and Programme 2019/20 to 2022/23

The reports of the Cabinet Member for Finance and Customer Experience were submitted seeking approval to the Revised Medium Term Financial Strategy and Budget 2019/20 to 2022/23, revised Appendix 4 as attached as Appendix 1 to these minutes, and the General Fund and Housing Revenue Account Capital Strategy and Programme for 2018/19 to 2022/23, as amended and attached as Appendix 2 to these minutes, and outlining the main issues that needed to be addressed in considering the Cabinet’s budget and Council Tax proposals. The recommendations therein as amended by Executive Budget Resolution 2019/20 to comprise the Executive’s budget proposals were moved by Councillor Chaloner and seconded by Councillor Hammond (a copy of the amended Executive Budget resolution as circulated at the meeting attached as Appendix 1 to these minutes).

The Council agreed to suspend Council Procedure Rules 14.2, 14.5, 14.6, 14.7, 14.8, 14.9 and 16.2:-

(i)  to enable the above items to be considered together;

(ii)  to enable any amendments to be proposed, seconded and considered at the same time;

(iii)  to enable any amendment to be re-introduced later into the meeting; and

(iv)to revise the time allowed for speakers as follows:-

Movers of motions - 20 minutes

Seconders - 10 minutes

Other Speakers - 4 minutes

Right of Reply (Executive only) – 10 minutes

With the consent of the Mayor, Honorary Alderman Vinson addressed the meeting.

Amendment moved by Councillor Fitzhenry and seconded by Councillor Hannides, attached as Appendix 3 to these minutes. 

UPON BEING PUT TO THE VOTE THE AMENDMENT WAS DECLARED LOST

ABSTAINED – Councillor T Thomas

NOTE – FOR THE AMENDMENT: Councillors P Baillie, Bell, Claisse, Fitzhenry, Fuller, Galton, Guthrie, Hannides, B. Harris, L. Harris, Harwood, Houghton, Laurent, Parnell, Streets, Vassiliou, White and Wilkinson.

NOTE – AGAINST THE AMENDMENT: Councillors Barnes-Andrews, Mrs Blatchford, Bogle, Chaloner, Coombs, Fielker, Furnell, Hammond, Jordan, Kataria, Kaur, Keogh, Leggett, Mintoff, Mitchell, Murphy, Noon, Paffey, Payne, Rayment, Savage, Shields, Taggart and Whitbread.

UPON BEING PUT TO THE VOTE THE SUBSTANTIVE MOTION AS AMENDED WAS DECLARED CARRIED

RESOLVED that the Revised Medium Term Financial Strategy and Budget 2019/20 to 2022/23 including the General Fund and Housing Revenue Account Capital Programme 2019/20 to 2022/23, as amended by the Executive Budget Resolution 2019/20, attached as Appendix 4 to these minutes, be adopted. 

NOTE: All Members of the Council declared a pecuniary interest in the above matter, as payers and setters of Council Tax, and remained in the meeting during the consideration of the matter.

ABSTAINED – Councillors P Baillie, Bell, Claisse, Fitzhenry, Fuller, Galton, Guthrie, Hannides, B. Harris, L. Harris, Harwood, Houghton, Laurent, Parnell, Streets, T Thomas, Vassiliou, White and Wilkinson.

NOTE – FOR THE SUBSTANTIVE MOTION: Councillors Barnes-Andrews, Mrs Blatchford, Bogle, Chaloner, Coombs, Fielker, Furnell, Hammond, Jordan, Kataria, Kaur, Keogh, Leggett, Mintoff, Mitchell, Murphy, Noon, Paffey, Payne, Rayment, Savage, Shields, Taggart and Whitbread.

Report of the Interim Director, Finance and Commercialisation detailing the context within which the Council’s treasury management activity operates and sets out a proposed strategy for the coming year in relation to the Council’s cash flow, investment and borrowing, and the management of the numerous risks related to this activity.

The report of the Interim Director Finance and Commercialisation was submitted detailing the context within which the Council’s treasury management activity operates and setting out a proposed strategy for the coming year in relation to the Council’s cash flow, investment and borrowing and the management of the numerous risks related to this activity. 

RESOLVED:

(i)  To approve the Council’s Treasury Strategy (TS) and Prudential Indicators for 2019/20 to 2022/23, as detailed within the report.

(ii)  To approve the 2019 Minimum Revenue Provision (MRP) Statement as detailed in paragraphs 106 to 115 and to delegate authority to the Chief Financial Officer (CFO) to approve any changes necessary that aid good financial management whilst maintaining a prudent approach.

(iii)  To approve the Investment Strategy as detailed in paragraphs 87 to 105 of the report.

(iv)  To note that at the time of writing this report the recommendations in the Capital update report, submitted to Council on the 20 February 2019, have not yet been approved.  The indicators in the report are based on the assumption that they will be approved, but should the recommendations change, the Prudential Indicators may have to be recalculated.

(v)  To continue to delegate authority to the Chief Financial Officer (CFO) to approve any changes to the Prudential Indicators, Minimum Revenue Provision or borrowing limits that will aid good treasury management. For example, agreeing an increase in the percentage for variable rate borrowing to take advantage of the depressed market for short term rates.  Any amendments will be reported as part of quarterly financial and performance monitoring and in revisions to the TM Strategy.

(vi)  To approve the proposal within the Capital Strategy report, that Governance Committee have delegated authority to approve future Treasury Strategy Reports and associated Prudential Indicators.

(vii)  To endorse the proposal to explore an alternative Treasury Strategy to generate additional income that can support local services, whilst maintaining a prudent approach.

Report of Chief Executive detailing the cover for the interim arrangements for the statutory role of S151 Officer.

The Leader of the Council reported to Council that the Chief Officer Employment Panel met on the 19^th December, 2018.  Following interview the Panel selected John Harrison as a suitable candidate for the interim position.

The appointment was confirmed by Council that John Harrison was designated as the Interim S151 Officer effective from 21^st February 2019 until a new, permanent appointment was made.