Decisions

It was RESOLVED that the Acquisitions and Disposals Policy 2020-2025 be approved.

It was RESOLVED that:

a)    the progress made to date of the East Midlands Development Corporation Programme, and the establishment of an interim vehicle be noted;

b)    the principle of making a financial contribution to support the interim vehicle over the next three years be approved, subject to further negotiation and agreement by Council and subject to match funding from other affected local authorities and Government and, thereafter, the funding arrangements be included within the Medium Term Financial Strategy for 2021/22 onwards;

c)    the Chief Executive be requested to prepare a report including further detail on the Interim Vehicle and Rushcliffe Borough Council’s involvement in it, to be ratified by Full Council in December 2020; and

d)    the Council entering into the Members’ Agreement and participating in the incorporation of the Interim Vehicle Company Limited by Guarantee be approved in principle, and delegated authority be granted to the Leader and Chief Executive for agreeing the final form of the Members’ Agreement and Articles of Association subject to agreement by Council.

It was RESOLVED that the report be approved and the following be noted:

a)    the projected net effect of in-year efficiencies (£0.497m) and Covid-19 pressures (£2.355m) and Covid Government funding (£1.614m) resulting in an expected net revenue deficit for the year of £0.244m;

b)    a projected £3.017m net surplus on Business Rates as a result of additional S31 reliefs be transferred to the Organisation Stabilisation Reserve to offset the expected Collection Fund deficit in later years;

c)    the £0.723m receipts be transferred to reserves as follows - £0.523m to Organisation Stabilisation and £0.2m to the Development Corporation Reserve;

d)    the capital underspend of £23.8m, of which £18.465m be carried forward: £17.965m to 2021/22 Capital Programme and £500k to 2022/23 Capital Programme;

e)    the projected Special Expenses position with a projected deficit of £0.082m for the year be financed by a loan from the Council as agreed by the West Bridgford CIL and Special Expenses Group; and

f)     the six-month trial to engage Waste Investigations Support and Enforcement to deliver enforcement of environmental crimes (following on from Communities Scrutiny Group discussions).