Issue - meetings

Members considered a report setting out the revenue, capital and treasury

management activity from 1 April 2019 to 31 May 2019.

The following points were highlighted:

·         There was a forecast surplus of £379,000, including an approved carry-forward of £19,000.  £361,000 related to interest payable on borrowing;

·         The purchase of an investment property had been completed; the impact of this purchase would be presented as part of the Treasury update at the November meeting of this committee;

·         In terms of treasury management, a return of 1.663% had been achieved for the previous quarter.  Investments totalled £16.5 million;

·         Capital expenditure – the forecast outturn position was £31.813 million;

·         Members discussed the merits of electric car charging points and whether it would be useful to have them in other parts of the district;

·         A portion of the grant received for the High Street Community Clean-up was used for replacement bins on Gainsborough High Street.  Members were keen to discover whether this would be extended to other parts of the district;

·         Following enquiries from Members about the prevalence of blocks of flats within the district, it was revealed that there were no flats above three storeys in the socially rented sector.

RESOLVED to:

a)    accept the forecast out-turn position of a £379k net contribution to reserves as at 31 May 2019;

b)    accept the use of Earmarked Reserves during the quarter approved by the Executive Director of Resources using Delegated powers;

c)    approve the introduction of new fees and charges for Street Naming and Numbering;

d)  approve the use of General Fund Balances of £16.5k for the High Street Community Clean Up;

e)  approve the Capital Budget amendments and accept the current projected Capital outturn;

f)    accept the Treasury Management and Prudential Indicators to 31 May 2019.