Issue - meetings

Matters Referred to the Cabinet by a Committee - Reference from the Corporate Management Committee - A.6 - Long Term Financial Sustainability Plan/Ten Year Forecast

 

 

Meeting: 10/11/2017 - Cabinet (Item 98)

98 Matters Referred to the Cabinet by a Committee - Reference from the Corporate Management Committee - A.6 - Long Term Financial Sustainability Plan/Ten Year Forecast pdf icon PDF 201 KB

To enable Cabinet to give consideration to comments made to it by the Corporate Management Committee in respect of the above.

Decision:

 

(a)     Cabinet is pleased that the Committee supports the Long Term Financial Sustainability Plan and Ten Year Forecast; and

 

(b)     the Council already has treasury / investment policies in place that seek to obtain the best possible returns on its reserves whilst balancing the security of the investment. However, the Committee’s comments will be considered where opportunities to obtain greater returns across its entire investment portfolio become available in the future.

 

Minutes:

 

Cabinet was informed that, at the meeting of the Corporate Management Committee held on 25 September 2017, the Committee had received a report from the Corporate Director, Corporate Services regarding the Council’s Long Term Financial Sustainability Plan/Ten Year Forecast.

 

The Corporate Management Committee had decided to comment to Cabinet that:

 

(a)       the Committee supports the Long Term Financial Sustainability Plan / 10 Year Forecast; and

 

(b)       In respect of the money set aside for the beach recharge, the Committee thinks that it is important to ensure that the best return is achieved on the £1.5 million that will be held in reserves in the interim period.

 

The Cabinet had before it the following response of the Finance and Corporate Services Portfolio Holder made in response to the comments of the Corporate Management Committee:

 

“The Portfolio Holder thanks Corporate Management Committee for its comments.”

 

Having considered the comments of the Corporate Management Committee and the response of the Finance and Corporate Services Portfolio Holder:

 

It was moved by Councillor G V Guglielmi, seconded by Councillor Fairley and:

 

RESOLVED that -

 

(a)       Cabinet is pleased that the Committee supports the Long Term Financial Sustainability Plan and Ten Year Forecast; and

 

(b)          the Council already has treasury / investment policies in place that seek to obtain the best possible returns on its reserves whilst balancing the security of the investment. However, the Committee’s comments will be considered where opportunities to obtain greater returns across its entire investment portfolio become available in the future.