Agenda item

This report details an approach to initiate the asset review approved within the Council’s Financial Strategy, and sets out proposals for establishing an Asset Review Working Party.

          The Chair invited the Group Head of Technical Services to present the report to members, where he advised that earlier in the year the council adopted its Financial Strategy to address its structural budget deficit, one of the strands of the strategy was a commitment to undertake a review of the council’s land and property assets. The purpose was to identify opportunities to save money, generate additional revenue and identify capital receipts where retention of the asset was no longer appropriate. The report sought approval to set up a task and finish Working Party as part of the review to identify those opportunity within the general fund assets. The review would also inform the first element of the review update of the council’s asset management strategy. The working party was intended to form a structured means of engaging members in order to provide recommendations to the Economy Committee for decision-making. He confirmed that the Terms of Reference for adoption had also been attached to the report.

          The recommendations were then proposed by Councillor Stanley and seconded by Councillor Northeast.

          Before inviting members to comment during debate the Chair stated that this review was an important as it was part of the council’s Financial Strategy and was important to highlight assets that would create an income for the council or to sell. He confirmed the previous review was completed in 2010 and was therefore now very outdated and he would be in favour of creating the Working Party to allow for this work to be completed.

            The Chair then invited Councillor Gunner to address the committee where he confirmed that he was not in favour of creating another Working Party, he believed that the committee had the remit to complete the work required and as the council had already agreed to set up at least 3 other working parties for other reviews he felt it was creating unnecessary work. Councillor Stanley agreed that the work required to be undertaken for the review was important but reminded members that the committee has a full work programme agenda, so he felt it made sense to move the work outside of the committee, he was also in favour of allowing the working parties membership to be comprised of members from outside of the economy committee. He also highlighted that Working Parties meet in private and that allows for any private conversations to take place. In response Councillor Gunner stated that he didn’t disagree with private conversations needing to be had, however the committee could also have these conversations privately. Councillor Northeast added that he was happy to support the recommendations and was also supportive of the working party being formed with membership from the wider council membership.

            The Committee

                      RESOLVED

2.2. that it approved the establishment of a task and finish Working Party entitled “Asset Review Working Party”, to review the Council’s General Fund Asset Portfolio, with a view to identifying opportunities for generating improved revenues, savings and/or capital receipts, with agreed terms of reference as appended to this report. The working party will then report to and make recommendations back to this Committee.