Issue - meetings

That the implementation of the Asset Management Strategy as detailed in the Cabinet report be approved.

Decision

That the implementation of the Asset Management Strategy as detailed in the Cabinet report be approved.

Reason for Decision

For Cabinet to review and approve the implementation of the proposed Asset Management Strategy.

Implications

Financial

The Council has a significant and varied portfolio of assets which provide an income stream that is crucial to the delivery of the Council’s corporate objectives.

Value for Money

The implementation of this Asset Management Strategy will provide improved structure to asset governance and performance management. This in turn will improve the Council’s decision-making and support and enhance existing income streams.

Risk Implications

A robust Asset Management Strategy (AMS) mitigates the risk of the Council not being able to deliver the benefits described above.

Corporate Objectives

Efficient management of the Council’s assets is essential for the effective delivery of all corporate objectives.

Advice

The Group Manager for Commercial Assets and Property Development explained that the Asset Management Strategy was originally produced by the property consultants EC Harris in consultation with senior officers across the Council and submitted to Cabinet on 21 January 2014.

This has subsequently been updated by officers in response to the changing value of the asset profile of the Council, the creation of a Property Management Board and the presentation of a specific Disposal Strategy for assets. The objective of the strategy is to assist the Council to manage the performance of its assets as efficiently as possible in support of its corporate priorities.

The Strategy was considered by the Finance & Resources Overview and Scrutiny

Committee on 13 January 2016 and by the Corporate Management Team. Some

minor amendments have been made as a result of comments received.

The Portfolio Holder for Environmental, Sustainability & Regulatory Services asked why the footnote shown on page 76 of the agenda implied that public conveniences had all been closed; she believed some are still open.

The Group Manager for Commercial Assets and Property Development said that this footnote was incorrect and would be amended.

Consultation

Consultation took place with:

·        Senior Officers across the Council

·        Finance & Resources Committee

Voting

None.