Decisions

RECOMMENDED:     That the following items be approved:          

·         Treasury Management Strategy Statement 2024/2025, including treasury indicators for 2024-2028.

·         The Minimum Revenue Provision Policy 2024/2025

·         The Investment Strategy 2024/2025

Reason for the Decision

The Council must have approved a Treasury Management Strategy Statement, Minimum Revenue Provision Policy Statement and Annual Investment Strategy 2024/2025 by 31 March 2024.

RECOMMENDED:      That Council approve the Capital Strategy 2024/2025 as attached to the report.

Reason for Decision

Not to approve these policies would contravene the requirements of both legislation and good practice. In addition, the external auditors may comment in their report to those charged with governance (ISA260).

RECOMMENDED      That:

1)         Council approve the amendments to capital schemes and resources for the 2023-2028 capital programme as detailed in the report.

2)         Council approve new capital bids as set out in section 5 table 6, to be funded from available capital resources and included in the capital programme 2023-2028 as detailed in the report.

Reason for Decision

To report amendments, rephasing and resources to the 2023-2028 Capital Programme.

RECOMMENDED: That Council consider and approve the following:

Recommendation 1

It is recommended that Council note the revision to the Forecast for 2023/2024 as set out in the report.

Recommendation 2

Council is recommended to approve the Policy on Earmarked Reserves and General Fund Balance and the maximum balances set for the reserves as noted in the report and at Appendix 7.

Recommendation 3 It is recommended that Council :

1) Approves the budget requirement of £24,353,670 for 2024/2025 and notes the projections for 2025/2026, 2026/2027 and 2027/2028.

2) Approves the level of Special Expenses for the Town/Parish Councils as detailed in the report (Appendix 6).

3) Approves the Fees and Charges 2024/2025 detailed in Appendix 4.

4) Approves a Band D council tax of £148.37 for 2024/2025.

Recommendation 4

It is recommended that Council approves a minimum requirement of the General Fund balance for 2024/2025 of £1,217,680 (5% of estimated budget requirement).

Recommendation 5

Pursuant to Section 25 of the Local Government Act, Council is asked to have due regard to this statement at Section 9 of this report when considering and approving the budget and the level of council tax for 2024/2025.

Reason for Decision

To set a budget for 2023/2028

The  Forward Decision list was noted

RESOLVED: That under Section 100(A)(4) of the Local Government Act 1972, the press and public be excluded from the meeting for the following item of business  on the grounds that they involve the likely disclosure of exempt information as defined in paragraph 3 of Part 1 of Schedule 12A to the Act.

RECOMMENDED:  That updated Anti Fraud and Anti Corruption Policy be adopted.

Reason for Decision

Where people commit fraud against the public sector and public services, they take money away from the services on which the public depend, and damage citizens’ trust in the government. The Borough Council of King’s Lynn and West Norfolk (the Council) is committed to protecting the public funds entrusted to it and to upholding the highest standards of financial probity and accountability.  This Policy outlines the important work being carried out, and the roles and responsibilities across the organisation in our fight against fraud and corruption.

RESOLVED:           That the following be approved:

1)       To proceed with the Lynnsport 1 development to deliver 96 homes with Lovell Partnership Limited (LPL) under the Major Housing Partnership Development Management Agreement (30 April 2015).

2)             That the Executive Director - Place, in consultation with the Portfolio Holder for Business and Monitoring Officer be given delegated authority to approve the final terms of a Project Partnering Contract (PPC) 2000 with LPL to deliver this project.

3)             That the Council shall dispose of the properties in accordance with the tenure mix as set out in Table 2 of the report. In line with the corporate strategy.

4)             Pending the transfers referred to at resolution 3 above, the affordable and private rented tenures may be leased to WNHC and WNPL respectively.

5)             That the Development be formally classed as a Major Project.

RECOMMENDED:

1)             That Council approve the Capital budget estimate as detailed in section 5 and appendix 2 of the report.

Reason for Decision

·      Deliver housing of a range of tenures to meet local needs

·      To deliver on Council Corporate Objectives:  

o   Promote growth and prosperity to benefit West Norfolk;

o   Protect our environment;

o   Efficient and effective delivery of our services; and,

o   Support our communities.

·      To deliver affordable and private rented (PRS) housing for acquisition by the council’s wholly owned housing companies to support the delivery of council corporate objectives.

·      As a major project, it may be monitored by the Members Major Project Board.

·      Cabinet did not resolve to exclude the press and public for discussion on  the exempt appendix. 

RESOLVED: That under Section 100(A)(4) of the Local Government Act 1972, the press and public be excluded from the meeting for the following item of business on the grounds that it involves the likely disclosure of exempt information as defined in paragraph 3 of Part 1 of Schedule 12A to the Act.

The Forward Decision List was noted.