Issue - meetings

To receive a briefing from the Organisation Portfolio Holders regarding the Organisation business area and their portfolios.

Members received a briefing from the Organisation Portfolio Holders on the Organisation business area and their portfolios. The three Organisation Portfolios Holders were: Finance, Investment and Companies, and Corporate Direction and Governance. These three portfolios were aligned with the themes set out in the Council’s current and emerging Corporate Plans.

Finance Portfolio

Councillor T. Schofield, Deputy Leader and Portfolio Holder for Finance, gave an overview of the ongoing work in the Finance area which included Service and Financial Planning, Treasury Management, legal services, procurement and land charges. A report to the Committee set out a progress update on the Finance Portfolio’s objectives. These objectives included adopting a Capital Investment Strategy, approval of the Medium Term Financial Plan 2020-25, a procurement review, developing an asset management strategy and establishing working groups to guide key areas such as a Budget Advisory Group with Portfolio Holders.

The draft budget proposals for 2020/21 were due to be considered by the Executive on 7 November and reviewed by the Budget Scrutiny Panel on 21 November 2019 before it was reported back to this Committee.

Members commented on the following areas:

Procurement – Members noted the review of the procurement and contract management processes. They requested sight of the report and its recommendations when it was completed so improvements could be made to these areas.

Budget 2020/21 status – It was confirmed that Legal services which had overspends in previous years was expected to be on the existing budget from 2020/21. The new legal support arrangements were welcomed.

Investments and Companies Portfolio

The Portfolio Holder for Investments and Companies, Councillor T. Archer, was unable to attend the meeting, so Portfolio Holder for Finance, Councillor T. Schofield gave an overview of the Investment and Companies area of business. This included the Council’s assets and management, companies and commercial investments.

A report to the Committee set out progress on objectives which included ongoing oversight on existing companies via the Commercial Ventures Executive Sub-Committee, determining the Horley Business Park investment approach, considering new investment opportunities as they arose and ensuring effective monitoring and reporting of existing investments.

Members commented on the following areas:

·       Performance of companies – noted that a report on the performance of the companies owned or part-owned by the Council was considered under Agenda Item 8 of the meeting.

·       Updated asset management strategy – work was being undertaken to review the Council’s current assets to maximise returns from its commercial properties and land. The review would also be looking in detail at each asset held. The updated Asset Management Strategy would be considered for approval by the Commercial Ventures Executive Sub-Committee once completed. It was noted that the Committee requested a report, when the review is completed, on the assets held in terms of purchase price, value and overall returns.

·       Building energy ratings – Members asked if information was held on the building energy ratings for properties we lease to ensure compliance with new regulations.

Corporate Direction and Governance Portfolio

Councillor V. Lewanski, Portfolio Holder for  ...  view the full minutes text for item 6