Issue - meetings
Proposed Governance Arrangements for Investment Strategy
Meeting: 15/01/2019 - Cabinet (Item 75)
75 Proposed Governance Arrangements for Investment Strategy 
PDF 64 KB
(Cabinet Members with Special Responsibility Councillors Blamire & Hanson)
Report of Interim Head of Legal & Democratic Services (Report to follow)
Additional documents:
Minutes:
(Cabinet Members with Special Responsibility Councillors Blamire & Hanson)
Cabinet received a report from the Monitoring Officer, which provided a proposal for the governance of investment decisions for Cabinet to consider and refer to full Council, if appropriate.
The options, options analysis, including risk assessment and officer preferred option, were set out in the report as follows:
|
|
Option 1: Approve |
Option 2: Not Approve |
|
Advantages
|
Creates the opportunity for commercial investment decisions to be made |
No change |
|
Disadvantages
|
None |
No change |
|
Risks
|
New system of working which may increase risk |
No effective commercial investment occurs |
The officer preferred option is that the paper attached to the report be approved and referred to full Council.
Councillor Blamire proposed, seconded by Councillor Hanson:-
“That the recommendation, as set out in the report, be approved.”
Councillors then voted:-
Resolved unanimously:
(1) That the draft Council report in Annex A to the report be referred to full Council for approval.
Officer responsible for effecting the decision:
Interim Head of Legal & Democratic Services
Reasons for making the decision:
The City Council is proposing considering opportunities for commercial investments. The commercial timetable for investments is often competitive and fast moving. The proposals provide for much earlier engagement between Officers, Cabinet Members and Scrutiny and will allow for sufficient flexibility in respect of delegated authority to enable proper evidence led scrutinised decisions to be made in a timely manner.