Decisions and Recommendations

RESOLVED that:

(i)             the Head of Legal & Governance, in consultation with the members of the Commercial Ventures Executive Sub-Committee, be authorised to establish a company, and undertake all necessary supporting actions, for the purposes of acting as a holding company to consider and commission commercial activities on behalf of the Council, including acquiring and establishing additional companies, consideration of business plans, and oversight of commercial governance arrangements.

(ii)            shareholder consent be granted for the acquisition of the Council’s existing stake in Greensand Holdings Limited and RBBC Limited by the new holding company to be established under recommendation (i) on behalf of Greensand Holdings Limited, RBBC Limited, and the new holding company once established, subject to approval of the terms of acquisition by the Head of Legal and Governance, in consultation with the members of the Commercial Ventures Executive Sub-Committee.

(iii)          the Head of Legal and Governance be authorised to undertake necessary steps to recruit suitably qualified directors from the elected membership of the Council to serve on the Boards of the proposed holding company that she be authorised to recruit for suitably qualified directors for all existing and future subsidiaries as set out in this report, such appointments to include non-executive directors.

(iv)          the Commercial Ventures Executive Sub-Committee’s support for additional staffing resources being provided for the Council’s investment and commercial activities be noted.

(v)           the Employment Committee be asked to agree the creation of and recruitment to a new post of Commercial Director.

RESOLVED to approve the minutes of the meeting held on 5 December 2019 as a correct record.

Discuss options at site.

RESOLVED that:

i)               subject to satisfactory due diligence, the Head of Legal and Governance, in consultation with the Head of Finance and Assets and members of the Commercial Ventures Executive Sub-Committee, be authorised to:

(a)  Acquire the freehold/leasehold of the properties in Earlswood and Whitebushes as detailed in the exempt report in Part 2 of the report; and

(b)  Fund the acquisition and supporting costs from the funding allocated within the approved capital programme for investment in capital schemes to support delivery of the Corporate Plan, Housing delivery Strategy and Investment Strategy.

RESOLVED that the Head of Legal and Governance, in consultation with the Director of People and the members of the Commercial Ventures Executive Sub-Committee and Executive Member(s) with responsibility for Housing, be authorised to finalise terms for and establish a Joint Venture Limited Liability Partnership between Reigate and Banstead Borough Council and Raven Housing Trust, in line with the objectives set out in the report.

RECOMMENDED that:

1.       It be noted that on 16 January 2020 the Council calculated:

(a)      the Council Tax base 2020/21 for the whole Council as 61,128.8

[Item T in the formula in Section 31B(3) of the Local Government Finance Act 1992, as amended (the “Act”)] and,

(b)      for dwellings in those parts of its area to which a Parish precept relates:

          Horley Town Council                                     10,191.7

          Salfords & Sidlow Parish Council                 1,416.5

The ‘tax base’ is the number of Band D equivalent dwellings in a local authority area.

Detailed calculations of the Council Tax are set out in Annex 1, 2 & 3 of the report to Executive.

2.       Calculate that the Council Tax requirements for the Council’s own purposes for 2020/21 (excluding Parish precepts) is £14,210,001

3.       That the following amounts be calculated for the year 2020/21 in accordance with Sections 31 to 36 of the Act:

a. £85,196,176 – being the amounts which the Council estimates for the items set out in Section 32(2) of the Act taking into account all precepts issued to it by Parish Councils

b. £70,543,000 – being the aggregate of the amounts which the Council estimates for the items set out in Section 32(3) of the Act.

c. £14,653,176 – being the amount which the aggregate at 3(a) above exceeds the aggregate at 3(b) above, calculated by the Council in accordance with Section 32(4) of the Act as its Council Tax requirement for the year (item R in the formula in Section 32(4) of the Act).

d. £239.71 – being the amount at 3(c) above (Item R), all divided by Item T (1(a) above), calculated by the Council, in accordance with Section 33(1) of the Act, as the basic amount of its Council Tax for the year (including Parish

e. £443,176 - being the aggregate amount of all special items (Parish precepts) referred to in Section 34(1) of the Act (as per the attached Appendix).

f. £232.46 - being the amount at 3(d) above less the result given by dividing the amount at 3(e) above by item T (1(a) above), calculated by the Council, in accordance with Section 34(2) of the Act, as the basic amount of its Council Tax for the year for dwellings in those parts of its area to which no Parish precept relates.

g.       Horley Town Council                           £272.17

Salfords & Sidlow Parish Council       £259.64

Being the amounts given by adding to the amount at 3(f) above the amounts of the special items relating to dwellings in those parts of the Council’s area mentioned above divided in each case by the amount at 1(b) above, calculated by the Council, in accordance with Section 34(3) of the Act, as the basic amounts of its Council Tax for the year for dwellings in those parts of its area to which one or more special items relate.

4.       It be noted that the figures in the attached Appendix being the amounts given by multiplying the amounts at 3(f) and 3(g) above by the number which, in the proportions set out in Section 5(1) of the Act, is applicable to dwellings listed in a particular valuation band divided by the number which in that proportion is applicable to dwellings listed in valuation band D, calculated by the Council, in accordance with Section 36(1) of the Act, as the amounts to be taken into account for the year in respect of dwellings listed in different valuation bands.

5.       It be noted that for the year 2020/21 Surrey County Council and Surrey Police have stated amounts in precepts issued to the Council, in accordance with Section 40 of the Act, for each of the categories of dwellings shown in Appendix 2.

6.       Having calculated the aggregate in each case of the amounts 1 to 5, above, the Council, in accordance with Section 30(2) of the Act, hereby sets the amounts of Council Tax for the year 2020/21 for each of the categories of dwellings shown in Appendix 3.

7.       Authorise the Chief Finance Officer to make any amendments to the Council Tax demands as might prove necessary as the result of changes to the estimated demands issued by preceptors on the Council’s Collection Fund.

RECOMMENDED that:

(i)              A Revenue budget requirement of £24.460 million for 2020/21 as set out in the report to Executive and supported by the Updated Medium-Term Financial Plan at Annex 1, which includes:

·       Revenue Budget Growth Proposals of £0.074 million (at Annex 1.1) in addition to the £2.12 million (net) that was previously reported in the November 2019 Budget report; and

·       An advance payment of £6.204 million for the secondary element of the employer’s Local Government Pension Scheme contribution for 2020/21 to 2023/24;

(ii)            An increase in Reigate & Banstead’s Band D Council Tax of £5.00 (2.20%);

(iii)          The planned use of £5.671 million (net) from the General Fund Balance; comprising:

·       Drawing £1.256 million from the General Fund Balance to support the 2020/21 Revenue Budget; and

·       Drawing £6.204 million from Reserves to fund the cost of the advance payment of the employer’s secondary pension contribution for the three-year period to 2022/23

·       Transferring the £1.789 million allocation of New Homes Bonus funding for 2020/21 into Reserves.

(iv)          The recommended re-allocation of funds between Earmarked Reserves in 2020/21 as detailed in the report and at Annex 2;

(v)            The latest Medium-Term Financial Plan at Annex 2

(vi)          A Capital Programme of £176.328 million for 2020/21 to 2024/25 as set out in the report and at Annex 3, including additional Capital Programme Growth Proposals of £82.655 million, supported by the Capital Strategy for 2020/21 at Annex 3;

(vii)        The Chief Finance Officer’s report on the robustness of the Budget estimates and adequacy of Reserves.

RESOLVED that the Chief Finance Officer to make any necessary final technical adjustments to the budget and Council Tax arising from final budget refinements or changes to Government funding.

RECOMMENDED: That the Calendar of Meetings for the 2020/21 Municipal Year be approved.