Agenda and draft minutes

Executive - Tuesday, 11th August, 2020 6.30 pm

Venue: Remote Meetings - livestream on Youtube

Contact: Eric Dickinson/Alison McEwan  Democracy Officers

Media

Items
No. Item

14.

One Minute Silence in memory of former Liberal Democrat Councillor, Tom Porter

Minutes:

A one minute silence was observed in memory of former Liberal Democrat Councillor, Tom Porter who had sadly passed away that day.

15.

Apologies

To receive any apologies for absence.

Minutes:

No apologies had been received.

16.

Minutes pdf icon PDF 232 KB

To approve as a correct record the Minutes of the meeting held on xx 2017

Minutes:

The minutes of the previous remote meeting held on Thursday, 9th July 2020 were approved as a correct record.

17.

Additional Items of Business

To determine whether there are any additional items of business which, by reason of special circumstances, the Chair decides should be considered at the meeting as a matter of urgency.

 

Minutes:

There were no additional items of business.

18.

Declaration of Interest

In accordance with the Regulations, Members are required to declare any personal or personal and prejudicial interests they may have and the nature of those interests in respect of items on this agenda and/or indicate if S106 of the Local Government Finance Act 1992 applies to them.

 

Minutes:

There were no declarations of interest.

19.

Exclusion of the Public

To determine during which items, if any, the public are to be excluded from the meeting.

 

Minutes:

There were no items of business requiring the public to be excluded from the meeting.

20.

Right To Speak

To consider questions, statements or petitions from Members of the Public

Minutes:

No request to speak had been received.

21.

Annual Treasury Management Report Review of 2019/20 Activity pdf icon PDF 599 KB

To inform Members of the Council`s treasury management activity during 2019/20.

Additional documents:

Minutes:

Purpose

 

To inform members of the Council’s treasury management activity during 2019/20.

 

Reason for Decision

 

 

To comply with the regulations issued under the Local Government Act 2003 to produce an annual treasury management report review of activities and the actual prudential and treasury indicators for 2019/20. The report met the requirements of both the CIPFA Code of Practice on Treasury Management (the Code) and the CIPFA Prudential Code for Capital Finance in Local Authorities (the Prudential Code). Performance against the approved prudential and treasury indicators as shown in Appendix 1 of the report.

 

During  2019/20 the minimum reporting requirements were that Full Council should receive the following reports:

 

           an annual treasury strategy in advance of the year (Full Council 20 February       2019)

           a mid-year treasury update report (Full Council 18 December 2019)

          an annual review following the end of the year describing the activity compared to the strategy (this report).

 

The regulatory environment places responsibility on Members for the review and scrutiny of treasury management policy and activities.  The report was therefore important, as it provided details of the outturn position for treasury activities and highlighted compliance with the Council’s policies previously approved by Members.

 

It had been a challenging year in terms of returns on investments and this was further impacted in March by COVID-19 and two reductions in the Bank Rate, from 0.75% to 0.10% .

 

It was confirmed that the Council has complied with the requirement under the Code to give prior scrutiny to all of the above treasury management reports by the Scrutiny Committee before they were reported to Full Council. Member training on treasury management issues was undertaken during the year on 10 December 2019 in order to support Members’ scrutiny role.

 

Decision

 

That the Executive recommends that Full Council note the annual treasury management activity for the year ended 31 March 2020.

 

 

 

 

 

 

22.

2019/20 Final Capital Outturn Position pdf icon PDF 156 KB

1.    To report to Members on the performance of the 2019/20 capital investment programme and present the financing of capital expenditure incurred during 2019/20; and

 

2.    To seek approval of a revised 2020/21 capital budget after incorporating net carry forward commitments (slippage) from 2019/20.

Additional documents:

Minutes:

Purpose

 

1.    To report to the Executive on the performance of the 2019/20 capital investment programme and present the financing of capital expenditure incurred during 2019/20; and

2.    To seek approval of a revised 2020/21 capital budget after incorporating net carry forward commitments (slippage) from 2019/20.

 

Reason for Decision

 

To conclude the capital budget monitoring process for 2019/20 and report the final outturn position as outlined in the Council`s Statement of Accounts for 2019/20; and

 

To increase the 2020/21 Council capital programme for amounts carried forward from 2019/20 and other budget adjustments as shown in Appendix 3 of the report.

 

Decision

 

That the Executive recommend that Full Council approve:

 

1.    The final position on capital spending and financing of £14,026m for 2019/20 as shown in Appendices 1 and 2, which equates to 90% of the final resources position; and

2.    The revised capital budget for 2020/21 totalling £20.874m as outlined in Appendix 3, (including net carry forward of £1.406m).

23.

Revenue Monitoring Report 2020/21 - Quarter 1 (to 30 June 2020) pdf icon PDF 690 KB

1.    To report the forecast outturnposition for the year as at 31 March 2021 based upon actual spending and income to 30 June 2020; and

 

2.    Members are asked to note the financial impact of the Coronavirus pandemic as can be seen in paragraph 5.  In view of these exceptional times the revenue monitoring position is uncertain.

Additional documents:

Minutes:

Purpose

 

1.    To report the forecast outturnposition for the year as at 31 March 2020 based upon actual spending and income to 30 June 2020; and

2.    The Executive is requested to note the financial impact of the Coronavirus pandemic as detailed in paragraph 5 of the report and that in view of these exceptional times, the revenue monitoring position is uncertain.

 

Reason for Decision

 

To give consideration to the level of revenue spending and income 2020/21 as part of the effective governance of the Council and to ensure that appropriate management actions is taken to ensure a balanced financial position.

 

Decision

 

That the Executive:

 

1.    Note the projected recenue budget forecast position of a net overspend of £2.7m, as summaried in table 1 and detailed in Appendix 1; and

2.    Note that Officers are continuing to work on a number of options to mitigate the potential financial impact and bring forward options for decision as appropriate;

3.    Note that the Council, along with other District Councils and industry groups continue to lobby Central Government for additional funding; and

4.    Note that further income compensation is to be received.  Where these income losses are more than 5% of a Council`s planned income from sales, fees and charges, the Government will cover them for 75 in every pound last (as detailed in paragraph 11 of the report).

5.    Seek approval from Full Council for the latest revised net budget of £15.693m as shown in Table 1 of the report; and

6.    Seek approval from Full Council for the net transfers to earmarked reserves of £1.703m as shown in appendix 2 as attached to the report.

7.               

24.

Capital Monitoring Report 2020/21 - Quarter 1 (to 30 June 2020) pdf icon PDF 253 KB

To provide Members with an update on capital expenditure and the resources position along with highlighting any variances.

Additional documents:

Minutes:

Purpose

 

To provide the Executive with an update on capital expenditure and the resources position along with highlighting any variances.

 

Reason for Decision

 

To effectively manage the 2020/21 capital programme.

 

Decision

 

That the Executive:

 

1.    Recommend to Full Council, approval of net budget changes totalling a decrease of £1,758,987 giving a revised capital budget for 2020/21 totalling £19,115,145 as detailed in Appendix 1 of the report; and

2.    Recommend to Full Council, approval of the proposed financing of the revised capital budget totalling £19,115,145 as shown in Appendix 2; and

3.    Note the lastest estimated year end position on capital receipts and contributions showing an assumed balance of £946,774 at 31 March 2020 as shown in Appendix 3 of the report.

 

 

 

 

 

25.

Strategic Risk Register pdf icon PDF 217 KB

To present the Executive with a Strategic Risk Register.

Additional documents:

Minutes:

Purpose

 

1.    To present the Executive with a Strategic Risk Register; and

2.    To seek approval of the Strategic Risk Register.

 

Reason for Decision

 

The Executive is required to approve the Strategic Risk Register (as attached to the report at appendix 1) pursuant to the Risk Management Strategy.

 

Decision

 

That the Executive approves the Strategic Risk Register.