Agenda and minutes

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Contact: Colin Gamble 

Media

Items
No. Item

1.

Apologies for Absence

Additional documents:

Minutes:

There were no apologies for absence at this meeting.

2.

Declarations of Interest

Additional documents:

Minutes:

The following declaration of interest was made:

 

(a) Cllr A Jones – Minute 10 (Corporate Debt Management – position as at 31 March 2024) – Volunteer for Kings Money Advice Centre.

3.

Minutes of the meeting held on Monday, 4th March 2024 pdf icon PDF 152 KB

Additional documents:

Minutes:

Resolved:


That the minutes of the meeting held on Monday, 4 March 2024, be confirmed and signed as a correct record.

4.

Minutes of the meeting held on Thursday, 14 March 2024 pdf icon PDF 94 KB

Additional documents:

Minutes:

Resolved:


That the minutes of the meeting held on Thursday, 14 March 2024, be confirmed and signed as a correct record.

5.

Minutes of the meeting held on Monday, 29 April 2024 pdf icon PDF 75 KB

Additional documents:

Minutes:

Resolved:


That the minutes of the meeting held on Monday, 29 April 2024, be confirmed and signed as a correct record.

6.

Provisional Revenue and Capital Outturn 2023/24 pdf icon PDF 623 KB

Report of Executive Director (Finance and Resources)

Additional documents:

Minutes:

The Cabinet considered a report of the Executive Director (Finance and Resources) presenting the provisional revenue outturn for 2023/24, and the indicative level of revenue balances going into 2024/25.

 

Resolved:

 

1. That the provisional 2023/24 revenue outturn position for both the General Fund and Housing Revenue Account (HRA), as set in out in the submitted report, be noted and the agreement of any final adjustments following the completion and audit of the Statement of Accounts be delegated to the Executive Director (Finance and Resources).

 

2. That the potential revenue impact of the 2023/24 outturn on the 2024/25 General Fund budget and Medium Term Financial Strategy, as set out in the report, be noted.

 

3. That it be noted that the expenditure on the capital investment programme for 2023/24 totalling £50.066M against a revised budget of £56.126M.

 

4. That it be noted that the requested changes as detailed in Appendix 2 to the report will result in an amended total Capital Investment Programme of £20.834M deliverable by South Essex Homes Limited and £1.092M deliverable by Kent County Council, totalling £21.926M.

 

5. That the results of the ongoing review of the affordability and prioritisation of the current approved Capital Investment Programme, be noted.

 

6. That authority be delegated to the Executive Director (Environment and Place), in consultation with Ward Members and the Cabinet Member for Planning, Housing and the Local Plan to agree how the CIL Ward Neighbourhood Allocations received up until 31 March 2024 (excluding allocation to Leigh Town Council) are to be spent.

 

7. That the submission of the Council’s Productivity Plan, set out at Appendix 4 to the report, to the Department for Levelling Up, Housing and Communities (DLUHC), be approved and authority for any final amendments be delegated to the Executive Director (Finance and Resources) and the Executive Director (Strategy and Change) in consultation with the Cabinet Member for Finance, Assets and Investments.

 

Recommended:

 

8. That the appropriation of revenue funds to and (from) earmarked reserves, as set out in in the report, be approved.

 

9. That the relevant budget carry forwards and accelerated delivery requests totalling a net £7.119M moving into 2024/25 and future years, as set out in Appendix 1 to the report, be approved.

 

10. That the virements, reprofiles, additions, deletions, new external funding for schemes and transfers to/from the ‘subject to viable business case’ section of the programme, as detailed in Appendix 1 to the report, be approved and it be noted that this will result in an amended Capital Investment Programme deliverable by the Council of £120.899M for the period 2024/25 to 2028/29, as detailed in Appendix 2 to the report.

 

11. That the content of the Infrastructure Funding Statement 2023/24, set out at Appendix 3 to the report be noted and the carry forward CIL Main Fund receipts from reported year 2023/24 and previous reported years until the CIL Governance Framework and spending plans are reviewed for the reported year 2024/25, or Cabinet authorise any detailed spending proposals, be approved.

 

 

 

Reasons for  ...  view the full minutes text for item 6.

7.

Annual Treasury Management Report 2023/24 pdf icon PDF 446 KB

Report of Executive Director (Finance and Resources)

Additional documents:

Minutes:

The Cabinet considered a report of the Executive Director (Finance and Resources) presenting the Annual Treasury Management Report covering the treasury activity for the period from April 2023 to March 2024 and the performance against the Prudential Indicators for 2023/24.

 

Resolved:

1. That the Annual Treasury Management Report for 2023/24 and the outturn Prudential Indicators for 2023/24, be approved and it be noted that the financing of 2023/24 capital expenditure of £50.066m has been funded in accordance with the schedule set out in the submitted report.

2. That it be noted that the Capital Financing and Treasury Management were carried out in accordance with statutory requirements, good practice and in compliance with the CIPFA (The Chartered Institute of Public Finance and Accountancy) Prudential Code during 2023/24.

3. That the following in respect of the return on investment and borrowing, be noted:

 

·       The loan and investment portfolios were actively managed to minimise cost and maximise interest earned, whilst maintaining a low level of risk.

·       £6.319m of interest and income distributions for all investments were earned during 2023/24 at an average rate of 4.59%. This is 0.37% under the average SONIA rate (Sterling Overnight Index Average) and 0.43% under the average bank base rate. Also, the value of the externally managed funds decreased by a net of £1.651m due to the changes in the unit price, giving a combined return of 3.39%.

·       The level of borrowing from the Public Works Loan Board (PWLB) (excluding debt relating to services transferred from Essex County Council on 1st April 1998) remained at £347.3m (Housing Revenue Account (HRA): £74.2m, General Fund (GF): £273.1m) throughout 2023/24.

·       The level of financing for ‘invest to save’ schemes decreased from £8.22m to £8.03m by the end of 2023/24.

 

Reasons for decisions:

 

The CIPFA Code of Practice on Treasury Management recommends that Local Authorities should submit reports regularly. The Treasury Management Policy Statement for 2023/24 set out that reports would be submitted to Cabinet quarterly on the activities of the treasury management operation.

 

Other Options:

 

There are many options available for the operation of the Treasury Management function, with varying degrees of risk associated with them. The Treasury Management Policy aims to effectively control risk to within a prudent level, whilst providing optimum performance consistent with that level of risk.

 

Note: This is an Executive Function

Not eligible for call-in

Cabinet Member: Cllr Collins

 

8.

Licensing Policy - Consultation and Adoption pdf icon PDF 126 KB

Report of Executive Director (Environment and Place)

Additional documents:

Minutes:

The Cabinet considered a report of the Executive Director (Environment and Place) presenting a draft revised Licensing Policy Statement for formal consultation.

 

Resolved:

 

That the draft revised Licensing Policy Statement, as set out at Appendix 1 to the submitted report, be approved for formal consultation.

 

Reasons for Decision:

 

To comply with the statutory duty to publish a timely Statement of Policy in accordance with the provisions of Section 5 of The Licensing Act 2003 

 

Other Options:

 

None.

 

Note: This is an Executive Function save that approval of the final Policy is a Council Function

 

Not eligible for call-in

Cabinet Member: Cllr Gilbert

9.

Review of the Council's Statement of Gambling Policy - Consultation pdf icon PDF 97 KB

Report of Executive Director (Environment and Place)

Additional documents:

Minutes:

The Cabinet considered a report of the Executive Director (Environment and Place) presenting a draft revised Gambling Policy Statement for formal consultation.

 

Resolved:

 

That the draft revised Gambling Policy Statement, set out at Appendix 1 to the submitted report, be approved for consultation.

 

Reasons for Decisions

 

To comply with its statutory duty under Section 349 of The Gambling Act 2005.

 

Other Options 

 

None.

 

Note: This is an Executive Function save that approval of the final Policy is a Council Function

Not eligible for call-in

Cabinet Member: Cllr Gilbert

10.

Corporate Debt Management - Position as at 31 March 2024 pdf icon PDF 251 KB

Report of Executive Director (Finance and Resources)

Additional documents:

Minutes:

The Cabinet considered a report of the Executive Director (Finance and Resources) setting out the corporate debt management position to 31 March 2024.

 

Resolved:

 

1. That the new service reporting arrangements to the Director of Financial Services, be noted.

 

         2. That the finalised outstanding debt position as at 31 March 2024 and the position of debts written off to 31 March 2024 as set out in Appendices A & B to the submitted report, be noted.

         3. That the nine proposed write offs exceeding £25,000, as set in Appendix B to the report, be approved.

 

Reasons for decisions:

1. Debt collection forms an important consideration for most service areas but predominantly collection is secured by services now reporting into the Director of Financial Services. All action instigated remains in accordance with the Council’s Corporate Debt Management Policy to ensure a fair and consistent approach is applied to each case, and to maximise income collection for the Council.

2. Each write off is considered on an individual basis to assess the viability of collection and via compliance with the Council’s Corporate Debt Management Policy to ensure a standard consistent approach is applied.

 

         Other Options:

          

         None

 

Note: This is an Executive Function

Not eligible for call-in

Cabinet Member: Cllr Collins

 

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