Agenda and draft minutes

Budget and Performance Panel
Tuesday, 16th February 2021 6.30 p.m.

Venue: THIS WILL BE A VIRTUAL MEETING

Contact: Stephen Metcalfe, Democratic Services - email  sjmetcalfe@lancaster.gov.uk 

Note: THIS IS A VIRTUAL LIVE TEAMS MEETING. YOU WILL NEED TO HAVE MICROSOFT TEAMS TO ACCESS THE MEETING. PASTE THE FOLLOWING LINK INTO YOUR BROWSER TO ACCESS THE MEETING: https://teams.microsoft.com/l/meetup-join/19%3ameeting_MDFlMGNlM2YtMjViZi00MzAzLTg4YzktOGNhNjllYTNiOWY0%40thread.v2/0?context=%7b%22Tid%22%3a%2261b49b28-22c1-4c9b-8830-70288744880e%22%2c%22Oid%22%3a%2204ebc003-aa07-424b-9037-e9c23273b693%22%2c%22IsBroadcastMeeting%22%3atrue%7d 

Items
No. Item

The Chair advised that he would accept requests from non-Members to speak at the meeting of the Panel in accordance with Overview and Scrutiny Procedure Rule 15. 

33.

Minutes

Minutes of the Meeting held on 26TH January 2021. 

Minutes:

It was proposed by Councillor Dennison and seconded by Councillor Duggan that the minutes of the meeting held on 26th January 2021 be agreed as a correct record. 

 

It was noted that the minutes would be signed by the Chair when the minute book was available. 

34.

Items of Urgent Business authorised by the Chair

Minutes:

There were no items of urgent business. 

35.

Declaration of Interests

To receive declarations by Councillors of interests in respect of items on this Agenda. 

Councillors are reminded that, in accordance with the Localism Act 2011, they are required to declare any disclosable pecuniary interests which have not already been declared in the Council’s Register of Interests. (It is a criminal offence not to declare a disclosable pecuniary interest either in the Register or at the meeting). 

Whilst not a legal requirement, in accordance with Council Procedure Rule 9 and in the interests of clarity and transparency, Councillors should declare any disclosable pecuniary interests which they have already declared in the Register, at this point in the meeting. 

In accordance with Part B Section 2 of the Code Of Conduct, Councillors are required to declare the existence and nature of any other interests as defined in paragraphs 8(1) or 9(2) of the Code of Conduct. 

 

Minutes:

There were no declarations of interest made at this point. 

36.

Treasury Management and Capital Strategies 2021/22 pdf icon PDF 226 KB

Appendices are attached. 

 

Report of Chief Finance Officer.

 

Report and Appendix 1 published on 15th February 2021. 

Additional documents:

Minutes:

The Chief Finance Officer submitted a report that presented the draft Treasury Management and Capital Strategy and associated documents for 2021/22.  This provided an opportunity for consideration and comment ahead of formal presentation to Council in accordance with the Council’s Constitution.  The report, which was attached at Appendix 1 to the report was presented to Cabinet on 9 February 2021, was included to provide overall context for strategies and to better inform the Panel’s considerations. 

 

The Panel was asked to limit their consideration to the Treasury Management and Capital Strategies and associated attachments contained within Appendix 1, Appendices E, F, G and H, in line with their Terms of Reference within the Constitution.  It was reported that the Council’s Constitution required that when a new or existing strategy was being considered the Overview and Scrutiny Committee or Budget and Performance Panel had an opportunity to comment.  If it considered it appropriate, Cabinet may then amend its proposals before submitting them to Council for formal adoption. 

 

Councillor Anne Whitehead, Cabinet Member with responsibility for Finance and Resources, was in attendance for this item and responded to questions from members. The City Council’s officers also assisted with responses to queries. 

 

It was moved by Councillor Joan Jackson, seconded by Councillor Dennison:-

 

“Would it make more sense for a policy which carries less risk.

 

(1)     To analyse the economic climate post pandemic for the next 12 months at least. 

 

(2)     To postpone some of the new projects to prioritise making the council operate without loss and within budget. 

 

(3)     To make the Treasury Management Strategy of borrowing over the next 12 months more prudent by pushing back some major projects and stretching them out over the next 3 to 5 years.” 

 

Upon being put to the vote 5 Members voted in favour and 4 voted against, whereupon the Chair declared the proposition to be carried. 

 

Resolved: -

 

Would it make more sense for a policy which carries less risk.

 

(1)        To analyse the economic climate post pandemic for the next 12 months at least. 

 

(2)        To postpone some of the new projects to prioritise making the council operate without loss and within budget. 

 

(3)        To make the Treasury Management Strategy of borrowing over the next 12 months more prudent by pushing back some major projects and stretching them out over the next 3 to 5 years.