Issue - meetings

The report of the Director – Development and Economic Growth is attached.

It was RESOLVEDthat the Asset Management Strategy and Plan be approved.

The Cabinet Portfolio Holder for Business and Growth, Councillor Brennan, presented the report of the Director – Development and Economic Growth, which detailed the Asset Management Strategy 2025-2030.

Councillor Brennan advised that the Council had a diverse portfolio, which was extremely important in supporting Council services and required careful management. The Strategy sought to align the asset portfolio with organisational needs and manage property as a corporate resource. The Strategy and Action Plan detailed how the Council managed its land and property over a five year period, as well as referring to Local Government Reorganisation (LGR), and its associated implications going forward. Councillor Brennan confirmed that the Strategy had been scrutinised and endorsed by the Growth and Development Scrutiny Group. The aim of the Strategy, together with details of the types of property held were highlighted in paragraph 4 and Appendices B and C to the report. The Strategy set out how the Council would effectively maintain property, together with optimising financial return and supporting local businesses. It also aligned management of the asset portfolio across the organisation to ensure a ‘one Council’ approach. Councillor Brennan stated that it was particularly important to review the Strategy, with LGR coming forward and the documents set out the Council’s proactive approach to managing its portfolio, together with clear objectives, as detailed in the appendices and she thanked officers for their hard work.

In seconding the recommendation, Councillor Virdi stated that as Portfolio Holder for Finance, he welcomed this review and advised that the Council’s assets represented a significant investment and it was important to take a structured and strategic approach to ensure that they continued to support service delivery. Effective asset management was also an element of the Council’s broader financial stewardship, to protect the long term valve of assets. The Strategy provided strategic context, supported the principles that assets should be actively managed and was an important piece of work.    

It was RESOLVEDthat the Asset Management Strategy and Plan be approved.