Issue - meetings

Minute 265 refers

Note – Members may find it useful to bring their Executive agendas to the meeting.

RESOLVED – that the Financial Sustainability policy, as detailed at Essential Reference Paper ‘B’ of the report submitted, be adopted.

(see also Minute 300)

That (A) a full financial sustainability strategy be developed;

(B)     the comments of Overview and Scrutiny Committee be received;

(C)    the implementation of the projects below be delegated to the Head of Strategic Finance and Property upon consideration of sound business cases:

·        Exploration of cost recovery approach to fees and charges

·        Physical Advertising on council assets

·        Advertising on the council website; and

(D)    a working group of officers and members be established to develop and deliver a Community Benefit Lottery.

The Executive Member for Finance and Support Services submitted a report on the efforts made to create a financial sustainability strategy to deliver more and higher quality services as central Government grants reduced and in order to address the current budget gap.  The Head of Strategic Finance and Property provided a summary of the report.

Councillor P Kenealy supported the need for the Council to be financially sustainable and sought assurances that the Council would not use its position to gain an unfair competitive advantage.

The Head of Strategic Finance and Property explained that the Policy, when agreed, would be developed ethically and sensitively with each proposal supported by a thoroughly developed Business Case. 

Councillor M Casey referred to the borrowing opportunities available to the Council in terms of investing in property.  Councillor B Deering urged a cautionary approach when interacting with the private sector on proposed projects.  Councillor T Stowe referred to opportunities to work in partnership to develop financial sustainability.

Councillor I Devonshire stated that the Council should review its fees and charges which he believed were 15% lower than in some neighbouring districts.  The Head of Strategic Finance and Property explained that the Council aimed to achieve full cost recovery on its fees and charges and agreed to review this further. 

In response to a question from Councillor Mrs D Hollebon regarding the Project Manager, the Policy Officer explained by example, how internet advertising would be managed.

Members debated at length the ethical and moral implications of including as a pilot project, a Community Benefit Lottery.  The Head of Strategic Finance and Property explained that those interested would be signed up via a Direct Debit and a limit could be imposed.  The Committee Chairman suggested that any such decision on any of the pilot projects should be handled ethically and with sensitivity.  This was supported.

Councillor M Casey referred to the Business Case templates attached as Essential Reference Papers and sought assurances that these would be thoroughly researched and completed with due regard to market conditions.

Members noted the update and recommended that the Executive be advised that Overview and Scrutiny Committee support, in principle, the need to adopt a financial sustainability policy and full financial sustainability strategy, including the creation of a self-funding post to drive the projects identified forward.

RESOLVED –that the Executive be advised that (A) the need to adopt the financial sustainability policy, as detailed in Essential Reference Paper “B” of the report submitted, be supported;

(B)   the development of a full financial sustainability strategy be supported;

(C)   the creation of a self-funding post within Finance and Support Services be supported to drive financial sustainability forward within the pilot projects identified namely:

·        Community Benefit Lottery

·        Exploration of cost recovery approach to fees and charges

·        Physical Advertising

·        Advertising on the Council’s website; and

(D)   the pilot projects as detailed, be supported by thoroughly researched business cases developed ethically, sensitively and with due regard to market conditions.