Cabinet - Tuesday, 15th December, 2015 4.30 pm - Agenda and minutes

To confirm the Minutes of the Meeting held on 17th November, 2015 (copy attached).

The Minutes of the meeting of the Cabinet held on 17th November, 2015 were confirmed and signed by the Chairman.

To consider the Head of Financial Services' Report No. FIN1522 (copy attached), which sets out the main activities of Treasury Management Operations during the first half of 2015/16.

The Cabinet received the Head of Financial Services' Report No. FIN1522, which set out the main activities of the treasury management operations during the first half of 2015/16 and provided an update on the current economic conditions affecting treasury management decisions.  The appendix to the Report showed the actual prudential indicators relating to capital and treasury activities for the first half of 2015/16 and compared these to the indicators which had been set in the Annual Treasury Management Strategy for the year, which had been approved by the Council in February, 2015. 

The Cabinet was informed that the Council’s existing treasury management advisers, Arlingclose Limited, had been successful in a recent tendering exercise and would, therefore, continue to provide advice for a further contract period. It was noted that the current year had remained challenging in terms of treasury management. Following the previously agreed changes to the Strategy, the Council's treasury team had continued to concentrate on the security of investments but had diversified the range of counterparties used to maximise returns, following guidance from its advisers. In particular, investment activity had been extended further into pooled funds, which had provided higher returns than investments that had been favoured previously. It was noted that the capital value of some pooled fund investments had fallen, although income returns were still performing well. Those funds which had fallen in value would be retained until the capital value was greater than the initial investment, meaning that no loss would be recognised. Members heard how losses on capital value were only recognised on sale of the fund or at such time that the reduction was material and sustained. It was normal for these assets to fluctuate in value.  Arlingclose had compiled a benchmarking list of its clients and the Council’s return on its total investment portfolio during the previous six months had been 1.7%, which compared favourably against the average of 0.87% of 122 local authority clients. The Cabinet was informed that it was not proposed to alter the treasury management strategy at the present time.

It was confirmed that the Council had complied with its Treasury and Prudential Indicators for 2015/16. 

The Cabinet NOTED the Council’s treasury management operations in the first half of 2015/16, as set out in the Head of Financial Services' Report No. FIN1522.

To consider the Head of Community and Environmental Services’ Report No. COMM1522 (copy attached), which proposes a new scheme of charges for the crematorium, cemeteries, halls and pavilions, allotments, football, cricket, Princes Hall, waste management, parking and Environmental Health and Housing Services.

The Cabinet considered the Head of Community and Environmental Services’ Report No. COMM1522, which recommended new charges for the Aldershot Crematorium, cemeteries, halls and pavilions, allotments, football, cricket, Princes Hall, waste management and Environmental Health and Housing services.

The Cabinet noted that the core prices for the Farnborough Leisure Centre, Aldershot Pools and Southwood Golf Course would be subject to increases in line with the contracts, linked to the January Retail Price Index, which would be available from March, 2016. It was proposed to raise the cremation fee from £797 to £817.50. The results of benchmarking indicated that this fee remained competitive but towards the upper end of the scale, reflecting the high quality of service provided.

The new fees and charges would be introduced on 1st April, 2016, with the charges for football pitches being increased for the 2016/17 season and allotments from 1st April, 2017, as a year’s notice had to be given.

The additional annual income resulting from the increase in fees and charges was estimated at £35,000, which would form part of the 2016/17 draft budget.

The Cabinet RESOLVED that the fees and charges, as set out in the Head of Community and Environment Services’ Report No. COMM1522, be approved.

To consider the Head of Planning’s Report No. PLN1558 (copy attached), which sets out an update to the future work programme for the preparation of the new Rushmoor Local Plan.

The Cabinet considered the Head of Planning's Report No. PLN1558, which provided an update the future work programme for the preparation for the new Rushmoor Local Plan. It was explained that it was necessary to make some changes to the work programme due to changes to the plan making process, as set out in the National Planning Policy Framework and supporting National Planning Practice Guidance, in particular as they related to cross boundary working on key strategic planning issues. Also, the Housing and Planning Bill was, currently, making its way through Parliament and the implications of this would also need to be considered. It was confirmed that the Council did have an adopted Core Strategy in place, which many other local authorities did not have at this point. The delays described meant that the timescale for the production of a new Local Plan would slip by around a year. It was noted that this extra time would allow for new staffing arrangements, agreed by the Cabinet in November, 2015, to become established.

Members heard how consultation on the new plan, originally scheduled for January, 2016, would now take place in October, 2016. Adoption of the new Plan would now be scheduled for December, 2017. If agreed, these changes to the work programme would be published on the Council’s website with effect from 1st January, 2016. Members were assured that the new work programme would enable the Council to produce a Local Plan that was robust and sound. There were still some risks due to uncertainty relating to the evolution of the Housing and Planning Bill and it was possible that the timetable would need to be adjusted again, once the implications of the Bill had become clearer. 

The Cabinet RESOLVED that

(i)            the revised timetable for the next steps in the preparation of the Rushmoor Local Plan, as set out in paragraph 5.2 of the Head of Planning’s Report No. PLN1558, be approved;

(ii)          an updated Rushmoor Local Development Scheme 2016 – 2019, incorporating the timetable changes agreed at resolution (i) above, be approved for publication on the Council’s website, with effect from 1st January, 2016; and

the Head of Planning, in consultation with the Cabinet Member for Environment and Service Delivery, be authorised to make any necessary minor amendments to the Local Development Scheme.