Agenda and decisions

To receive apologies for absence and notification of substitutions.

To confirm the minutes of the meeting held on 13 October 2025 as a correct record.

Minutes to follow.

The minutes of the meeting held on 13 October 2025 were agreed as a correct record.

To receive any disclosures of interest from councillors in accordance with the Council’s Code of Conduct for members.

The Chair, or their nominee, to answer any questions raised by members of the public in accordance with Standing Order 40.

The Committee were advised that no questions had been received from members of the public.

To consider the Forward Plan for committee business.

The Committee resolved to note the contents of the Forward Plan.

Committee is asked to:

1.    Consider and agree the proposed new MRP Policy Statement for 2025/26; and

2.    Recommend that Council approve the proposed new MRP Policy Statement for 2025/26 (set out in Appendix A).

The Committee resolved to:

1.     Consider and agree the proposed new MRP Policy Statement for 2025/26; and

2.     Recommend that Council approve the proposed new MRP Policy Statement for 2025/26 as set out in Appendix A of the report.

Committee is asked to:

1.    Consider and agree the proposed new Debt Rescheduling proposal for implementation during 2025/26; and

2.    Recommend that Council approve the Debt Rescheduling proposal for implementation during 2025/26.

The Committee resolved to:

1.     Consider and agree the proposed new Debt Rescheduling proposal for implementation during 2025/26 subject to the Chairs of the Business Infrastructure and Growth Committee, the Commercial Assets sub-Committee and the Corporate Policy and Resources Committee being consulted and approving before a re-financing transaction is initiated if PWLB rates movements result in the discount benefit to the Council falling below £320m; and

2.     Recommend that Council approve the Debt Rescheduling proposal for implementation during 2025/26 subject to the Chairs of the Business Infrastructure and Growth Committee, the Commercial Assets sub-Committee and the Corporate Policy and Resources Committee being consulted and approving before a re-financing transaction is initiated if PWLB rates movements result in the discount benefit to the Council falling below £320m.

Committee is asked to:

1.    Consider and agree the principle of Asset Rationalisation as set out in this report and recommend this to Council;

2.    Approve the commencement of the procurement of a specialist adviser through an appropriate framework;

3.    Delegate authority to the S. 151 Officer and Group Head of Assets, in consultation with the Leader and the Deputy Leader, the Chair of the Commercial Assets Sub-Committee, and Chair of the Business, Infrastructure and Growth Committee, to appoint the preferred bidder from the above procurement to assist in the implementation of an Asset Rationalisation Strategy;

4.    Delegate authority to the Group Head of Corporate Governance to enter into a contract with the proposed advisors.

Appendix 1 contains exempt information within the meaning of Part 1 of Schedule 12A to the Local Government Act 1972, as amended by the Local Government (Access to Information) Act 1985 and by the Local Government (Access to Information) (Variation) Order 2006 Paragraph 3 – Information relating to the financial or business affairs of any particular person (including the authority holding that information) and in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information because, disclosure to the public would prejudice the financial position of the authority in any lease, contract or other type of negotiation with the tenant or developer, who could then know the position of the Council.

The Committee resolved to:

1.     Consider and agree the principle of Asset Rationalisation as set out in the report and to recommend this to Council,

2.     Approve the commencement of the procurement of a specialist advisor through an appropriate framework,

3.     Delegate authority to the Section 151 Officer and Group Head of Assets, in consultation with the Leader and the Deputy Leader, the Chairs of the Commercial Assets Sub-Committee and the Business, Infrastructure and Growth Committee, to appoint the preferred bidder from the above procurement to assist in the implementation of an Asset Rationalisation Strategy; and

4.     Delegate authority to the Group Head Corporate Governance to enter into a contract with the proposed advisors.

The Committee is asked to recommend to Council that it approves the:

1.    Reserves Strategy for 2026-27

2.    Repurposing of the earmarked Sinking Fund reserves as a revenue budget equalisation reserve.

The Committee resolved to:

1.     Recommend to Council that it is informed and assured by the Draft Reserves Strategy noting that the forward projected figures will change when a detailed Budget Report is brought to the Corporate Policy and Resources Committee in January 2026; and

2.     Acknowledge the proposed repurposing of the earmarked Sinking Fund reserves as a revenue budget equalisation reserve.

Committee is asked to recommend that Council approve the:

1.    Draft Medium Term Financial Strategy

2.    Proposed Flexible Use of Capital Receipts Strategy

The Committee resolved to:

1.     Be informed and assured by the Draft Medium Term Financial Strategy set out in the report and that an updated strategy (reflecting the impact of actual debt discount and refinancing rates achieved, and the outcome of the Fair Funding Review), as part of a Detailed Budget Report will come to the Corporate Policy and Resources Committee in January 2026 for consideration and approval; and

2.     Approve the proposed Flexible Use of Capital Receipts Strategy.

Committee is asked to approve the Treasury Management outturn position for 2024/25.

The Committee resolved to approve the Treasury Management Outturn position for 2025/25.

The Committee is asked to note the performance of the Treasury Management team during the first six months of 2025/26.

The Committee resolved to note the performance of the Treasury Management Team during the first six months of 2025/26.

To note those urgent actions which have been taken by the Chief Executive in consultation with the Leader since the last Corporate Policy and Resources meeting on 13 October 2025.

The Committee were advised that no urgent actions had been taken since the last meeting.