Councillor J Thompson
Councillor G Savage
A K Morgan
R J Fisher
Lead Officer in Attendance:
Ruth Atkinson (Director of Policy & Performance)
David Rawsthorn (Director of Finance)
Democratic Services Officer:
Pp/4/7/09 Apologies for Absence
Minutes Pp/1/6/09 to Pp/3/6/09 of the meeting of this Committee held on 9 July 2009 were approved as a correct record of those proceedings.
Pp/6/7/09 Declarations of Interest
Councillor P Bell declared a personal interest in item 11, Performance Indicators, which related to Cumbria Constabulary, as she is an employee of Cumbria Constabulary.
Pp/7/7/09 Treasury Management Transactions report: 1 April 2009 to 31 May 2009
The Panel considered report F67/09 of the Director of Finance, which provided details on the Treasury Management Transactions for 1 April 2009 to 31 March 2009. He explained that since the banking crisis, the Council’s monies had been moved to high street banks, and that this would continue for the immediate future. He also explained that total interest receipts to date are slightly below the original budget. Members asked questions of Mr Rawsthorn, who informed them that the world of treasury management had been dramatically changed by recent events and that things will remain difficult for the foreseeable future.
RESOLVED that the Treasury Management Transactions Report: 1 April 2009 to 31 May 2009 be noted.
Reasons for decision
One of the roles of this Panel is to monitor the Treasury Management activities of the Council.
Pp/8/7/09 Treasury Management Annual Report 2008-2009
The Panel considered report F49/09 of the Director of Finance, which compared the 2008-09 treasury activities with the Strategy presented to the Resources Committee in April 2008. He explained that the Council had outperformed on the original budget, as it had locked into higher rates of interest prior to the banking problems in autumn. He also explained that the Council was fortunate in having, what proved to be the best Treasury management advisers, Arlingclose.
RESOLVED that the Treasury Management Annual Report 2008-2009 be noted.
Pp/9/7/09 Audit Commission Report on Icelandic Investments
The Panel considered report F53/09 of the Director of Finance, which identified the main conclusions and recommendations in the Audit Commission’s report ‘Risk and return English Local Authorities and the Icelandic Banks’. The Director of Finance emphasised that the Council never had any Icelandic investments, but that the Council should not be complacent. He said the main lesson for Eden was that Members should be better trained to understand what Treasury management is and how the Council undertakes its activities.
- that the Audit Commission Report on Icelandic Investments be noted.
- that training be arranged for those Members involved in the monitoring of Treasury Management activities.
Pp/10/7/09 Revenue Budget Monitoring: Provisional Outturn 2008-9
The Panel considered report F51/09 of the Director of Finance, which provided details on the quarterly budget monitoring. Members asked questions of Mr Rawsthorn, who stated that the main variances were concessionary travel, net cost of benefits and land management rents and explained the reasons for these variances.
RESOLVED that the Revenue Budget Monitoring: Provisional Outrun 2008-2009 report be noted.
Pp/11/7/09 Capital Programme Monitoring: April 2008 to March 2009
The Panel considered report F48/09 of the Director of Finance, which set out the revenue and capital spend for April 2008 to March 2009. Mr Rawsthorn informed Members of Bluebell Lane Car Park and Frenchfield Stadium, the two new schemes which had been added to the programme.
RESOLVED that the Capital Programme Monitoring: April 2008 to March 2009 report be noted.
Pp/12/7/09 Efficiency Monitoring: April 2008 to March 2009
The Panel considered report F44/09 of the Director of Finance, which set out the Council’s progress against the projected outturn target.
RESOLVED that the Efficiency Monitoring: April 2008 to March 2009 report be noted.
Councillor J Raine declared a personal interest in the following item as she works for Age Concern, a stakeholder working with the Council to promote take up of benefits.
Pp/13/7/09 Performance Profile of Benefits
The Panel considered report F50/09 of the Director of Finance, which showed how this Council’s benefits service compared with other members of SPARSE (a group of sparsely populated local authorities which champion the cause of such councils). He explained that performance data was supplemented by satisfaction level surveys and comparative data.
He noted that most of the lack of take up was to do with older people not wishing to claim Council Tax benefit. He explained that the Government was launching a national network of Financial Inclusion Champions in August 2009 to look at maximising the uptake of benefits for those entitled to receive them.
Pp/14/7/09 Performance Indicators 2008/09 End of Year Report
The Panel considered report Pp35/09 of the Director of Policy and Performance, which outlined the year end figures (April 2008 to March 2009) for all corporate performance indicators. Members asked questions of Ms Atkinson, who informed Members that EDC had met or exceeded 42% of the set targets.
RESOLVED that the Performance Indicators 2008/09 End of Year Report be noted.
Pp/15/7/09 Exclusion of Press and Public
RESOLVED that in accordance with Section 100A(4) of the Local Government Act 1972, members of the public (including the press) be excluded from the meeting during discussion of the following items of business on the grounds that they involve the likely disclosure of exempt information as defined in paragraph 3 of Part 1 of Schedule 12A of the Act.
The following minute Pp/16/7/09 contains exempt information as described in the relevant paragraph of Part 1 of Schedule 12A of the Local Government Act 1972 and are excluded from this document by virtue of Section 100A of the Act. Below is a summary of these proceedings.
Urgent Decision not Subject to Call In (16/7/09)(Exclusion Paragraph 3)
The Chairman notified the Panel of the Resources Portfolio decision Res_7_6_09, which was not subject to Call In as the matter was considered urgent.
RESOLVED that the urgent decision be noted.
The meeting closed at 8.17pm