Agenda and minutes

1.1       Councillor Elkin approved as a correct record the minutes of the meeting held on 22 December 2015.

2.1       Reports referred to in the minutes below are contained in the minute book.

Report by the Chief Operating Officer

3.1       The Lead Member considered a report by the Chief Operating Officer.

DECISIONS

3.2       RESOLVED to (1) agree the Council becoming a shareholder and committing funding to an investment of £40,000 to the UK Municipal Bond Agency PLC; and 

(2) agree that further Members’ approval will be required to sign the Framework Agreement and its accompanying schedules including the joint and several guarantee. 

Reasons

3.3       There is no immediate plan or need to borrow through the UK MBA PLC, but as a shareholder the Council would be able to access preferential rates.

To consider excluding the public and press from the meeting for the remaining items of the agenda on the grounds that if the public and press were present there would be disclosure to them of exempt information as specified in Category 3 of Part 1 of Schedule 12A to the Local Government Act 1972 (as amended), namely information relating to financial or business affairs of any particular person (including the authority holding the information).

4.1       RESOLVED to exclude the public and press from the meeting for the remaining agenda items on the grounds that if the public and press were present there would be disclosure to them of exempt information as specified in paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972 (as amended), namely information relating to the financial or business affairs of any particular person (including the authority holding that information).

Report by the Chief Operating Officer

5.1       The Lead Member considered a report by the Chief Operating Officer.

DECISIONS

5.2       RESOLVED to (1) authorise the writing off of 17 debts amounting to

 £148,147.93 in the Council’s 2015/16 accounts;

(2) note that provision is made for bad and doubtful debts; and

(3) note the positive steps being put in place to make improvements going forward.

Reasons

5.3       There is no prospect of recovering the 17 outstanding debts.  Work continues to review and streamline the debt recovery process, to learn the lessons and to ensure we have robust systems and processes in place within Accounts Receivable to recover debt promptly.