Issue - meetings

Report of the Deputy Chief Executive (Corporate Direction).

Further to the discussion on the financial reports (minute * refers), it was moved by Councillor Lynch and seconded by Councillor Bray that the General Fund budget report and recommendations contained therein be approved. In accordance with the Local Authorities (Standing Orders) (England) (Amendment) Regulations 2014, voting on this item was recorded and taken as follows:

Councillors Bill, Bray, Cartwright, Cope, Crooks, Gould, Mrs Hall, Mr Hall, Hodgkins, Hulbert, Inman, Lynch, Mayne, Moore, Mullaney, Nichols and Witherford voted FOR the motion (17);

Councillors Allen, Boothby, Camamile, Ladkin, Morrell, O’Shea, Sprason, Sutton and Ward abstained from voting.

The motion was therefore declared CARRIED and it was

RESOLVED –

(i)            The General Fund budget for 2014/15 and 2015/16 be approved;

(ii)           The Special Expenses Area budget for 2014/15 and 2015/16 be approved;

(iii)          The proposed movement in General Fund reserves and balances for 2014/15 and 2015/16 be approved.

Report of the Deputy Chief Executive (Corporate Direction).

Members were presented with the draft General Fund budget 2015/16 which would be determined by Council on 19 February. Reading this in conjunction with the other finance reports on the agenda, a member asked if there were capital reserves set aside for future projects. In response members were reminded that any reserves had funded the moveable floor in the new Leisure Centre so there were none set aside for the future.

Members asked questions around the plans to set up a wholly owned company in accordance with the HRA Investment Plan. It was noted that this could not be funded from the Housing Revenue Account, as it would breach the borrowing cap and it would therefore needed to be funded from the general fund. Once set up, however, it would be self-funding. It was requested that a report on the formation of the company be brought to a future meeting, followed by regular updates.

A member expressed concern that, by setting aside a reserve for appeals, there was a risk of more applications being refused due to having the safety net of funds available. In response officers and other members felt that this would not be the case.

During debate, reference was also made to the worst-case figure included to repay VAT on Greenfields’ unit lettings and the anticipated revaluation which the Government had continually deferred with regard to business rates.

RESOLVED –

(i)            The general fund budget and special expenses area budget for 2014/15 and 2015/16 be endorsed and RECOMMENDED to Council;

(ii)           The proposed movement in general fund reserves and balances for 2014/15 and 2015/16 be noted;

(iii)          The presentation of a revised Medium Term Financial Strategy to Council on 24 March be noted;

(iv)         A report on the formation of a wholly owned company, to support the Housing Investment Plan, be brought to the next meeting.

Report of the Deputy Chief Executive (Corporate Direction).

The committee was presented with the proposed revenue budget and council tax precept for 2015/16 for the special expenses area of Hinckley prior to consideration by Council.

A member asked if the £25,000 contribution to car parks in Hinckley was still realistic due to the reduction in the number of car parks. In response it was confirmed that the figure was still required. It was noted that in future car parking in the town centre may have to be reviewed depending on the uptake of the proposed free parking on the Crescent site. Concern was also expressed that the car park near Holliers Walk School would be underused if the school moved premises so this would need to be reviewed.

It was moved by Councillor Bray, seconded by Councillor Hodgkins and

RESOLVED – the revenue budget and council tax for 2015/16 for the special expenses area of Hinckley be endorsed and RECOMMENDED to Council.