Issue - meetings

Following a request by the requisite number of members, voting on this item was recorded. The detail of the recorded vote is contained in minute 398 above. The motion was CARRIED and it was

RESOLVED – the updated Medium Term Financial Strategy for 2019/20 to 2023/24 be approved.

To present the medium term financial strategy 2019/20 to 2023/24.

Members received the updated Medium Term Financial Strategy 2019/20 – 2023/24. During discussion, the following points were raised:

·         The split for business rates retention was still under discussion

·         A report would be produced on reducing empty properties

·         The parish & community initiative fund would revert to its former level of £150,000

·         The removal of rurality from the foundation formula of the fair funding basis could have an impact given the sparse population in some of the borough’s rural areas, although it was noted that this was still under consultation

·         The additional income from Block C of the Crescent should the remaining two units be let may be between £30,000 and £40,000

·         There was a budget for Hinckley Community Development Fund which could not be accessed due to the process not having been agreed. It was requested that a progress report be brought to the next meeting.

The accountancy team was commended on their hard work in producing the reports.

RESOLVED –

(i)            the report be noted;

(ii)           a report be brought to the next meeting on the Hinckley Community Development Fund.