THE DECISION:

That under Section 100A(4) of the Local Government Act 1972, the press and public were excluded from the meeting during consideration of the items of business at minute nos CA.16, CA.17 and CA.18 on the grounds that they involved the likely disclosure of exempt information as defined in paragraphs 1, 2, 3 and 4 of Part 1 of Schedule 12A of the Act as the Cabinet was satisfied that the public interest in maintaining the exemption outweighed the public interest in disclosing the information.

THE DECISION:

That the decisions of the meeting held on 2 July 2019 (CA.6 – CA.10), previously circulated, be signed as a correct record.

The subject of the decision:

In January 2019, Cabinet approved the creation of a Commercial Property Portfolio in principle, subject to the development and approval of an investment strategy.  This report sought approval of the Investment Strategy; the purchase of properties in accordance with the Investment Strategy and the governance arrangements set out in the Investment Strategy.

Alternative options considered:

None.

The reason for the decision:

The Council’s Commercial vision as set out in the Commercial Strategy was to be self-sufficient by 2020/21and not rely on Government grant to support the budget.  Cabinet was satisfied that the proposals outlined in the report supported the Council’s vision.

THE DECISION:

That Cabinet approves and recommends to Council that:-

(1)     the investment strategy is approved, subject to agreement by the Leader of the Council on Member appointment to the Board and the Property Investment Committee;

(2)     authority is delegated to the Chief Executive:

          (i)    to set up a wholly owned company for the purposes of acquiring and managing investment properties;

          (ii)   to appoint legal and financial advisors in line with the Council’s procurement rules;

          (iii)  to appoint Lambert Smith Hampton as property advisors and property managers;

          (iv)  in consultation with the Leader of the Council to make minor amendments to the Investment Strategy that may be necessary; and

(3)     authority is delegated to the S151 Officer for the financing of the commercial property portfolio.

The subject of the decision:

This report presented a report which analysed the work undertaken by the Audit, Governance and Standards Committee up to 31 March 2019.  An analysis of the work undertaken was attached at Appendix A of the report.

Alternative options considered:

None.

The reason for the decision:

To comply with the Council’s Constitution.

THE DECISION:

That the report of the Audit, Governance and Standards Committee on the Committee’s activities during 2018/19 be endorsed.

The subject of the decision:

This report provided an update on the revenue budget position of the Council and the reserve funds at the end of June 2019.

Alternative options considered:

None.

The reason for the decision:

To comply with S25 of the Local Government Act 2003 regarding setting a balanced budget and monitoring the financial position throughout the year.

THE DECISION:

That Cabinet approves and recommends to Council that:-

(1)     the budget remains at £9,085,870 as detailed in paragraph 3.2 of the report;

(2)     the total movement of the Economic Development Fund of £3,620 at paragraph 7.3 of the report to be allocated and to note that the Economic Development Fund remaining balance to be allocated at paragraph 7.4 of the report is £548,802;

(3)     the allocation from the Council Tax Payers Reserve at paragraph 7.5 of the report of £1,510,000;

(4)     the allocation from the One Off fund at paragraph 7.6 of the report of £257,280;

(5)     the allocation from the Repairs and Renewal Fund at paragraph 7.9 of the report of £50,000; and

(6)     to note the waiver of procurement rules at paragraph 8.2 of the report.

The subject of the decision:

This report provided the Quarter 1 update at 30 June 2019 on the progress of the capital programme 2019/20 and the treasury management positon.  A full schedule of the capital programme 2019/20 schemes was attached at Annex A of the report, together with the relevant update on progress of each scheme.

Alternative options considered:

None.

The reason for the decision:

To comply with the requirements of the Local Government Act 2003 and the Chartered Institute of Public Finance and Accountancy (CIPFA) Prudential Code and the CIPFA Treasury Management Code of Practice.

THE DECISION:

That Cabinet approves and recommends to Council:-

(1)     the net decrease of £1,987,222  in the capital programme to £42,329,484 as detailed in Annex B and also in the capital programme attached at Annex A of the report;

(2)     the increase of capital expenditure is funded from earmarked reserves at £3,910,983 where £145,645 is funded from capital receipts, £228,950 is from the Computer Fund and £3,536,388 is from external grants/contributions;

(3)     the funding allocation to the capital programme as detailed in paragraph 3.1 and 3.2 of the report;

(4)     the Set-Off Agreement with Lloyds Bank Plc and that the Section 151 Officer is designated as the Proper Officer of the Council to sign the contract once Cabinet approval has been received as in paragraph 4.6 of the report; and

(5)     the treasury management and prudential indicators at Annex E of the report.

The subject of the decision:

This report sought approval for the new Council Plan 2019-2023 which demonstrated the Council’s vision, purpose and priorities.

Alternative options considered:

None.

The reason for the decision:

The Council was statutorily obliged to have an active Council Plan.

THE DECISION:

That Cabinet approves and recommends to Council that the revised Council Plan 2019-2023 be adopted.