Cabinet - Tuesday, 16th October, 2018 7.00 pm - Agenda and minutes

To confirm the Minutes of the meeting held on 18th September, 2018 (copy attached).  

The Minutes of the meeting of the Cabinet held on 16th September, 2018 were confirmed and signed by the Chairman.

To consider Report No. FIN1829 (copy attached), which sets out the Council’s Medium Term Financial Strategy.

The Cabinet considered Report No. FIN1829, which set out the Council’s Medium Term Financial Strategy and sought endorsement of an updated Strategy for the three-year period 2019/20 to 2021/22.

The Cabinet was advised that this was the first of a series of reports that would support decisions for the budget recommendations to the Council. It was also confirmed that this document would be modified as updated information became available, before being submitted to the Council for adoption in February 2019. Members were informed that the Council continued to face significant financial challenges and would have to make some difficult decisions in order to set the budget over the following three years and beyond. The Report set out the four drivers of change that affected the Medium Term Financial Strategy, being population factors, the economy, policy decisions from Government, Hampshire County Council and Rushmoor Borough Council and Rushmoor 2020.

In response to a question, it was reported that there had been a reduction in the Council’s exposure to risk in relation to business rate appeals following changes to the appeals process.

The Cabinet RESOLVED that the Council’s Medium Term Financial Strategy 2019-22, including the two policy objectives to be achieved, as set out in Report No. FIN1829, be approved.

To consider Report No. LEG1810 (copy attached), which seeks approval for funding for works at No. 252 Ash Road, Aldershot, which is owned by the Council.

The Cabinet considered Report No. LEG1810, which requested funding for urgent repair works to the boundary wall at No. 252 Ash Road, Aldershot, which was owned by the Council.

The Report explained that works costing up to £50,000 were required to repair the wall. Whilst the wall had been identified as being in poor condition when the premises had been acquired, a further survey had identified that there had been more movement in the wall than had been expected and that the repair works were required as a matter of urgency.

In response to a question, it was confirmed that, even after the repair works had been completed, the property would demonstrate a rate of return in excess of 5%. It was further confirmed that the projected rates of return of Council-owned properties would always build in allowances for maintenance.

The Cabinet RESOLVED that a variation in the Capital Programme of up to £50,000, to enable the necessary repairs to be carried out to the boundary wall at No. 252 Ash Road, Aldershot, as set out in Report No. LEG1810, be approved.