Decisions

RESOLVED to move the exclusion of the Press and Public for the following item in view of the likely disclosure of 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.

Cabinet considered an exempt report on an opportunity to acquire an asset capable of generating strong levels of income, and thereby increase the Council’s asset base.

Alternative options considered and rejected by the Cabinet:

·         Not to submit a bid for the asset.

Resolved to:

1.    approve the acquisition of the investment asset identified in the exempt report;

2.    formally agree the offer submitted, and authorise the Chief Executive to undertake any necessary subsequent negotiations (including a further bid if required) and complete the acquisition of the asset or its holding company (in consultation with the Chief Finance Officer, the Leader and the Cabinet Member for Finance);

3.    authorise the Chief Finance Officer to decide (i) the most financially advantageous funding arrangements for the purchase, (ii) the most tax efficient method of holding the asset, and overall to ensure the acquisition is prudentially affordable; 

4.    authorise the Head of Corporate Governance to enter into any legal documentation necessary to acquire the asset or its holding company; and

5.    agree to exempt Contract Standing Orders in respect of our advisors.

Reason for decision

The asset will bring in a steady income stream for the term of the lease, which will assist in the future long term financial stability of the Council.

The Internal Audit Manager submitted the Confidential Reporting Code (Whistleblowing Policy), which formed part of the Council’s Constitution, for review. The Code sets out how to raise serious concerns about any aspect of the Council’s work, who to raise them with and how they should be dealt with.

The Code was available on the Council’s intranet and a leaflet placed on every internal notice board.

The Committee agreed that there was scope to update the leaflet design and suggested looking at the Surrey County Council whistleblowing leaflet for ideas.

Resolved to note and approve the amendments to the Confidential Reporting Code (Whistleblowing Policy) and leaflet as submitted.

The Internal Audit Manager presented the report on the annual review of the Anti-Fraud, Bribery and Corruption Strategy and also circulated a further amendment to paragraph 13 of the strategy as follows:

Members will in particular observe the Spelthorne Members’ Code of Conduct adopted on the 27 June 2012 and subsequently revised on 25 June 2013 and any other local Spelthorne code which may be adopted. The Members’ Code of Conduct is kept under review by the Members’ Code of Conduct Committee.  Members will be supplied with a copy of any relevant code policy or procedure and advised of their responsibilities.

Resolved:

1.    That the Committee endorses the Council’s Anti-Fraud, Bribery and Corruption Strategy.

2.    That the Committee approves the changes recommended to the Council’s Anti-Fraud, Bribery and Corruption Strategy as per the report and the further amendment to paragraph 13 circulated at the meeting.