Issue - meetings
Refreshed Sinking Fund Model
Meeting: 20/01/2025 - Corporate Policy and Resources Committee (Item 9)
9 Refreshed Sinking Fund Model 
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The Committee is asked the note the progress on the Sinking Fund Model and that a further formal report will be presented to this Committee on 24 March 2025, once Council has approved the 2025-26 Budget; and
Agree that a demonstration of the model be provided to members of the Committee and of the Commercial Assets Sub-Committee ahead of the further report on 24 March 2025.
Additional documents:
- Redacted Appendix A - Sinking fund Model, item 9
PDF 75 KB
- Redacted Appendix B - Sinking fund Model, item 9
PDF 73 KB
- Appendix C - Scenario A - Sinking Fund Closing Balance 50 years to 2074, item 9
PDF 34 KB
- Appendix C - Scenario B - Sinking Fund Closing Balance 50 years to 2074, item 9
PDF 34 KB
Decision:
The Committee asked for additional information to be provided on the proposed Sinking Fund Model and training to be given to all committee members before they agreed to note the report.
A demonstration of the model is to be provided to members of this committee and the Commercial Assets Sub-Committee before the model is refined and brought back to this committee.
Minutes:
The Committee considered an interim report on the progress of 2025-26 to 2074-75 Sinking Fund Forecast Model.
The Committee asked for additional information to be provided on the proposed Sinking Fund Model and training to be given to all Committee Members before they agreed to note the report mid-February 2025. The Chair advised the Committee that un-redacted confidential versions of Appendices A and B would be shared with Committee members to enable members to understand the model ahead of any demonstrations so that they were informed and able to ask questions on any part of the proposed model that they wanted clarification on. Any demonstration would also be provided to members on the Commercial Assets Sub-Committee before the model is refined and brought back to this committee.
The Committee asked that a User Requirement Description be written so the members were fully informed with regard to what is expected of the Sinking Fund Forecast Model and how the Council would use it.
The Committee resolved to:
1. Note the progress on the Sinking Fund Model and that concerns raised by the Committee Members would be addressed; and
2. Subject to the demonstrations and further clarification provided to members, to decide whether this Sinking Fund Model should proceed in the current proposed format.