The Financial Sustainability
Committee (referred to as “the Committee” hereafter)
may undertake the Council’s function to:
(a) review and advise on initiatives to generate income
for the Council
(b) promote financial sustainability and stability by
(c) decide to invest on projects within the financial
budget delegated to them.
Delegation of functions
The Committee will
a) progressing with one or more projects within the
delegated capital budget. Each Project’s budget shall need to
include all foreseeable costs (for example Fees, Stamp Duty Land
Tax and VAT).
b) the criteria for Officers to search for investment
opportunities. These criteria will be reviewed regularly and
adjusted accordingly in line with the economic markets and risk
profile that the Council wish to operate in.
c) decide on recommendation reports put forward by
Officers requesting authority to proceed with a project and allow
for investment in due diligence.
d) the review of current project progress and to make
further decision to proceed or stop projects should due diligence
uncover any adverse effects on the business case.
e) business cases for financial investment in service
areas for income generation. Reports will be brought to the
committee before full Council for consideration and approval to
proceed with the Committee’s support and
f) business cases for financial investment with a
budget higher than the Committee’s delegated budget
threshold. Such reports will be brought for the Committee
consideration and approval to progress with the Committee’s
support and recommendation.
g) establishing Sub-Committees to agree recommendations
on specific projects where changes to a business case may occur due
to changing variables.