Decisions and Recommendations

RESOLVED that the increase in Greensand Holdings Limited borrowing limit be approved by signing the shareholder written resolution, as set out in the accompanying exempt report in the Part 2 section of the agenda.

To consider the acquisition of a property in Redhill East.

RESOLVED that the acquisition of the leasehold of the properties and associated delegations and use of funding were not authorised.

None.

Apologies for lateness were received from Councillor T Archer.

Clerk’s Note: Councillor M A Brunt, Vice Chair of the Commercial Ventures Executive Sub-Committee, took the Chair for the meeting.

RESOLVED that the minutes of the Commercial Ventures Executive Sub-Committee meeting held on 5 September 2019 be approved as a correct record.

To consider any property acquisitions or disposals proposed.

RESOLVED that the 17 October 2019 Companies Performance Update, as set out in this report, and the observations from the Overview and Scrutiny Committee from its meeting of 17 October 2019 be noted.

To review any loans, grants or draw down agreements.

To consider any investment opportunities proposed.

RECOMMENDED that the Treasury Management Performance for the year to date (2019/20) and the updated prudential indicators be noted.

To approve the 2020/21 provisional budget proposal for consultation with the Overview and Scrutiny Committee in accordance with the Policy Framework and Budget Procedure rules within the Constitution and with the Business Community to comply with statutory requirements.

RECOMMENDED that:

(i)             A new Council Tax Policy, outlined in the Executive’s report, to apply a 100% discount to care leavers up to the age of 25 be adopted.

(ii)           The updated thresholds to the Local Council Tax Reduction Scheme, outlined in the Executive's report to reflect changes in allowances and premiums in line with Government benefits, be adopted.

RESOLVED that:

(i)             The national and local service context, outlined in Annex 1 to the report, be noted.

(ii)            The service proposals, set out in the report presented, which responded to national and local service context to deliver corporate priorities, be endorsed.    

(iii)          The draft business plans for 2020/21 to 2024/25 be approved, and that Heads of Service be authorised to finalise the plans for their service areas, in consultation with the relevant Portfolio Holders.

(iv)          The following be approved for consultation under the Council’s budget and policy framework:

-       Medium Term Financial Plan Summary (Annex 2);

-       Revenue Budget Savings and Additional Income proposals totalling £1.618 million (Annex 3);

-       Revenue Budget Growth proposals totalling £3.742 million (Annex 3);

-       Capital Investment Strategy Summary (Annex 4);

-       Capital Programme Growth proposals of £9.910 million (Annex 5).  

(v)           The Fees and Charges Policy, set out at Annex 6, be approved.

(vi)          The Reserves Policy, set out at Annex 7.2, be approved.

(vii)         The Medium Term Financial Plan forecast for 2021/22 onwards and the proposed action to address the forecast revenue budget gap be noted.  

Summary of pros and cons for the operation of a housing association and preferred delivery model

RESOLVED that the exempt information in relation to the Creation of a Housing Association report be noted.

RESOLVED that

(i)         the Head of Legal and Governance be authorised to complete and file the necessary paperwork to establish a CBS for the purpose of becoming a housing association; and

(ii)        the Head of Legal and Governance be authorised to take the necessary steps to establish the CBS as an arm’s length company through an appropriate company structure in consultation with the Members of the Commercial Ventures Executive Sub-Committee.