Agenda and minutes

Financial Policy Panel - Tuesday, 1st December, 2020 6.00 pm

Venue: https://attendee.gotowebinar.com/register/4770215115599722510

Contact: Democratic Services, Email: Democraticservices@epsom-ewell.gov.uk  tel: 01372 732000

Items
No. Item

4.

Declarations of Interest

Members are asked to declare the existence and nature of any Disclosable Pecuniary Interests in respect of any item of business to be considered at the meeting

Minutes:

No declarations of interest were made by Councillors regarding items on the agenda for the meeting.

5.

Order of Business

Minutes:

Due to a technical issue affecting the connection for the Council’s External Treasury Management Advisor, the Panel agreed to change the order of business for the meeting.

6.

S106 and CIL Update Report pdf icon PDF 135 KB

This report provides an update on the funds held under Section 106 (S106) planning agreements and CIL (Community Infrastructure Levy).

Minutes:

The Panel received a report providing an update on the funds held under Section 106 (S106) planning agreements and CIL (Community Infrastructure Levy).

The following matters were debated by Councillors:

·         Funds available for Affordable Housing and how these have been applied in the past and the criteria for allocating funds to potential future schemes.

·         The level of CIL receipts currently available and committed.

·         The Council’s position on the recovery of outstanding CIL balances from developers.

·         The cost of housing families out of borough.

Following consideration, the Panel resolved to:

(1)      note the current position on S106 funds held by the Council;

(2)      note the current position on CIL funds held by the Council.

 

7.

Treasury Management - Interim Report 2020/21 pdf icon PDF 90 KB

This report provides an update on treasury management performance for the first six months of 2020/21.

Additional documents:

Minutes:

The Panel received a report providing an update on treasury management performance for the first six months of 2020/21.

The following matters were debated by Councillors:

·         The Council’s ability to borrow.

·         The cost of the premium for early settlement of PWLB loans.

·         The possibility of negative interest rates in the future.

·         The Council’s authorised borrowing limit.

·         Current investment strategy.

Following consideration, the Panel resolved to:

(1)      Receive the presentation from Link Asset Services – Treasury Solutions;

(2)      Note the performance on return of investments for the first six months of 2020/21;

(3)      Note the current investment decisions being made within the terms sets out in the Treasury Management Strategy.

 

 

8.

Capital Programme 2021/22 pdf icon PDF 98 KB

This report summarises the proposed 2021/22 capital programme and seeks the Panel’s approval for it to be submitted to Council in February 2020.

 

Additional documents:

Minutes:

The Panel received a report summarising the proposed 2021/22 capital programme and seeking approval for it to be submitted to Council in February 2020.

Following consideration, the Panel resolved:

With the advice of the Capital Member Group to submit the following 2021/22 capital programme to Council for approval in February 2021, subject to the relevant policy committees first approving project appraisals:-:

(1)      Prioritised schemes totalling £885,000, funded from Community Infrastructure Levy receipts of £500,000; S106 funds of £110,000; a budgeted revenue contribution of £255,000; and external grant of £20,000, subject to a successful grant application.

(2)      A Disabled Facilities Grant scheme totalling £600,000, subject to external funding sources.

 

9.

Minutes pdf icon PDF 78 KB

The Panel is asked to confirm the Minutes of the Meeting of the Panel held on 8 September 2020 (attached) and to authorise the Chairman to sign them.


Minutes:

The Minutes of the meeting of the Financial Policy Panel held on 8 September 2020 were agreed as a true record to be signed by the Chairman.