Agenda for Executive Board on Tuesday, 28th June, 2016, 2.00 pm

Agenda and minutes

Venue: Ground Floor Committee Room - Loxley House, Station Street, Nottingham, NG2 3NG

Contact: Phil Wye, Constitutional Services, Tel: 0115 8764637  Email: phil.wye@nottinghamcity.gov.uk

Items
No. Item

9.

Apologies for absence

Minutes:

Councillor Jon Collins – leave

Councillor Dave Trimble – other council business

Councillor Jane Urquhart – work commitments

 

Ian Curryer

Andy Vaughan

10.

Declarations of interests

Minutes:

None.

11.

Minutes pdf icon PDF 225 KB

Last meeting held on 17 May 2016 (for confirmation)

Minutes:

The Board confirmed the minutes of the meeting held on 17 May 2016 as a correct record and they were signed by the Chair.

12.

Southern Growth Corridor Scheme - Key Decision pdf icon PDF 213 KB

Report of the Portfolio Holder for Business, Growth and Transport

Additional documents:

Minutes:

The Board considered the Portfolio Holder for Business, Growth and Transport’s report on the Southern Growth Corridor Scheme which is a £9.6m high capacity, high frequency east-west green bus corridor designed to serve existing employment sites and to cater for the travel demand predicted from new housing, employment and leisure developments along the corridor.

 

RESOLVED to

 

(1)  delegate authority to the Deputy Chief Executive/Corporate Director for Development and Growth, in consultation with the Portfolio Holder for Business, Growth and Transport, to accept up to £6.12m of D2N2 (LEP) funding for the scheme, subject to accepting the terms contained within the offer letter;

(2)  give delegated approval to the Deputy Chief Executive/Corporate Director for Development and Growth, in consultation with the Portfolio Holder for Business, Growth and Transport, to develop and approve the phased detailed designs for the Corridor, to let contracts within this programme (following standard procurement processes where appropriate or relevant) to advertise traffic regulation orders and to commence construction, subject to the City Council’s funding contribution being no greater than set out in the report.

 

Reason for decision

 

To enable the authority to receive Local Enterprise Partnership funding and to progress the delivery of the Southern Growth Corridor scheme.

 

Other options considered

 

Alternative bus priority options were considered along the route during the feasibility stage. A potential to provide a bus only link over private land between Tottle Road and Crossgate Drive was considered, however it was not possible to agree the scheme with the landowners.

 

Not providing any bus priority along this corridor has been considered, however this would not deliver the full eco-expressway benefits or offer the opportunity to stimulate the uptake of private electric car ownership.

13.

EE Monitor Replacement Programme - Key Decision pdf icon PDF 300 KB

Joint report of the Portfolio Holder for Energy and Sustainability and the Portfolio Holder for Planning and Housing

Minutes:

This item was deferred to a future meeting of the Board.

14.

PRE-AUDIT CORPORATE FINANCIAL OUTTURN 2015/16 - Key Decision pdf icon PDF 880 KB

Report of the Deputy Leader/Portfolio Holder for Resources and Neighbourhood Regeneration

Minutes:

The Board considered the Deputy Leader/Portfolio Holder for Resources and Neighbourhood Regeneration’s report setting out the City Council’s pre-audit General Fund and Housing Revenue Account (HRA) revenue outturn 2015/16 and Capital Programme.

 

RESOLVED to

 

(1)  note

a)  the pre-audit revenue outturn for 2015/16 including a revenue underspend of £0.100m after taking into account the application of £0.1000m traded surplus to support the Medium Term Financial Plan (MTFP) in 2016/17 and carry-forwards endorsed by the Deputy Leader, as set out in paragraph 2.2 and Appendix A of the report;

b)  the management action undertaken to control the identified cost pressures across services, as set out in Appendix B of the report;

c)  the discretionary rate relief granted in 2015/16 detailed in paragraph 2.11 of

the report;

d)  the position regarding cost reductions and pressures for 2015/16 detailed in paragraph 2.4 of the report;

e)  the capital outturn as detailed in Appendix F of the report, and explanations of variances over £0.100m as detailed in Appendix G of the report;

f)  the additions to the Capital Programme detailed in Table 10 of the report;

g)  the refreshed Capital Programme, including schemes in development, and the unallocated resources of £0.131m, as set out in paragraph 2.18 (Tables 12 to 14) in the report;

(2)  approve

a)  net General Fund carry forwards of £1.588m as set out in paragraph 2.6 and Appendix A(ii) of the report, that have been endorsed by the Deputy Leader;

b)  the movements of resources set out in paragraph 2.5 and Appendix D of the report;

c)  the net movement to earmarked reserves, as set out in paragraph 2.7 and appendix E of the report;

d)  the HRA outturn for 2015/16 as set out in paragraph 2.8 of the report;

e)  write-offs in excess of £10,000, totalling £0.857m where all options for recovery have been exhausted, as set out in paragraph 2.10 of the report;

f)  the extension of the rolling capital scheme as set out in paragraph 2.17 (Table 11) of the report;

(3)  note and endorse the allocations from the corporate contingency as set out in paragraph 2.3 of the report.

 

Reason for decision

 

It enables formal monitoring of progress against the 2015/16 budget and the impact of actual and planned management action.

 

The approval for virements of budgets is required by corporate financial procedures.

 

Other options considered

 

No other options were considered as the Council is required to ensure that, at a corporate level, expenditure and income are kept within approved budget levels and this report sets out how this is being managed.

15.

TREASURY MANAGEMENT 2015/16 ANNUAL REPORT pdf icon PDF 536 KB

Report of the Deputy Leader/Portfolio Holder for Resources and Neighbourhood Regeneration

Minutes:

The Board considered the Deputy Leader/ Portfolio Holder for Resources and Neighbourhood Regenerations’ report setting out the 2015/16 performance in respect of the management of the Council’s external debt and investments (i.e treasury management).

 

RESOLVED to note the performance information in relation to Treasury Management for 2015/16

 

Reasons for decision

 

The Council adopted the Chartered Institute of Public Finance and Accountancy (CIPFA)’s revised Code of Practice on Treasury Management in Local Authorities (the Code) on 5 March 2012. Part of the Code requires that authorities report on the performance of the treasury management function at least twice a year (mid-year and at year end).

 

The Council’s Treasury Management Strategy for 2015/16 was approved by full Council on 9 March 2015.

 

The Council has borrowed and invested substantial sums of money and is therefore exposed to financial risks including the loss of invested funds and the revenue effect of changing interest rates. This report covers treasury activity and the associated monitoring and control of risk.

 

Other options considered

 

Options for management of the Council’s debt and investment portfolio are continually reviewed. The overall aim is to minimise the net revenue costs of our debt whilst maintaining an even debt profile in future years, and to maximise investment returns within stated security and liquidity guidelines.

16.

Exclusion of the public

To consider excluding the public from the meeting during consideration of the remaining item(s) in accordance with Section 100A(4) of the Local Government Act 1972 on the basis that, having regard to all the circumstances, the public interest in maintaining the exemption outweighs in the public interest in disclosing the information

Minutes:

As Items 5 and 9 were deferred to a future meeting there was no requirement to exclude the public from the meeting.

17.

EE Monitor Replacement Programme - Key Decision - Exempt Appendix

Minutes:

This item was deferred to a future meeting of the Board