Decision details

RESOLVED:

That the Cabinet approve the:

 i.  Disposal and Acquisitions Policy including the new monetary thresholds, subject to the inclusion of the following recommendations by the Overview and Scrutiny Panel (Economic Well-Being):

• Where disposal and acquisition decisions are made, that these be retrospectively reported to the Panel.

• The new financial thresholds are reviewed 12 months following approval.

ii.  Creation of the Treasury and Capital Management Group

RECOMMEND

To the Corporate Governance Panel that it approves all required changes to the Constitution (including the Code of Financial Management) to reflect the requirements of the Disposal and Acquisitions Policy.

The current thresholds and procedures within the Constitution are too restrictive to enable a more commercial approach to the management of the Council’s property portfolio, and therefore a new Policy and governance model is required.

There were no other options considered.

None.