Issue - meetings

Report of the Strategic Director of Housing and Customer Services

Presented by the Corporate Portfolio Holder

Councillor N J Rushton presented the report to members, highlighting the Finance and Business Plan, the summary of the review of the assumption of the Medium Term Financial Strategy approved by Council in February and the update in respect of the Journey to Self Sufficiency Programme as set out in the report.  He drew members’ attention to the recommendation to set aside £20,000 so support the implementation of the Commercial Strategy. 

Councillor N J Rushton outlined the positive performance of the Housing Revenue Account with the required £13m required in 2022 for the purposes of repaying maturity loans now in place.

Councillor N J Rushton referred members to the update on the Journey to Self-Sufficiency Programme set out at section 5 of the report which detailed progress since the last report in February and a request for £20k from the self-sufficiency reserve to assist in the development of commercial opportunities.  He explained that good progress had been made under the programme and members could expect a revised fees and charges policy for approval in September.  The new policy will provide a consistent and transparent approach for the setting of new and review of existing fees and charges in line with the council’s new commercial approach.

Councillor R Blunt referred to the uncertainty faced by all councils and commented that the journey to self-sufficiency was quite daunting as there may be changes of major financial significance ahead.  He added that his priority was to ensure the Council’s finances were sound.

It was moved by Councillor N J Rushton, seconded by Councillor R Blunt and

RESOLVED THAT:

1.    The impact of the review of the medium term financial plans on the Council’s projected financial position be noted;

2.    The finance and business plan be noted (Appendix A);

3.    The progress of the journey to self sufficiency programme be noted; and

4.    The allocation of £20k from the self-sufficiency reserve to fund consultancy support in developing commercial business cases be approved (as detailed in paragraph 5.11).

Reason for decision:  To keep members up to date in respect of the Council’s financial projections.