Agenda and draft minutes

To confirm the minutes from the previous meeting.

The minutes from the previous meeting were agreed by the members present and then signed by the Chair.

To receive any apologies for absence

Apologies for absence were received from Councillor Deacon.

To receive any declarations of interest

A member with a disclosable pecuniary interest or a personal interest in a matter who attends a meeting of the authority at which the matter is considered -

(i)            must disclose the interest at the start of the meeting or when the interest becomes apparent

and, if the interest is a disclosable pecuniary interest, or a personal interest which is also prejudicial

(ii)            may not participate in any discussion or vote on the matter (and must withdraw to the public seating area) unless they have been granted a dispensation.

A member who discloses at a meeting a disclosable pecuniary interest which is not registered in the Members’ Register of Interests, or is not the subject of a pending notification, must notify the Monitoring Officer of the interest within 28 days of the disclosure.

Disclosable pecuniary interests, personal and prejudicial interests are defined in Part 2 of the Code of Conduct for Members

[If a member is in any doubt as to whether they have an interest which should be declared they should seek the advice of the Monitoring Officer before the start of the meeting]

There were no declarations of interest.

An opportunity for members of the public to make statements and ask questions in accordance with the rules as to Public Participation

There was no public participation.

None.

Action points from the previous two meetings had been circulated and members were satisfied these could be closed.

There were no outstanding actions.

The following items were added to the work programme:

September / November, TBC – Budget Setting Process (N Howcutt)

November – Fees and Charges (N Howcutt)

November – Local Government Review (M Brookes)

C Silva Donayre introduced the report and M Angus provided a presentation to the committee. The purpose of the report was for the committee to consider a recommendation that the Council enters into a Limited Liability Partnership with Hill Investment Partnerships Limited to bring forward the development of Council owned, and other, sites for regeneration and development.

Please refer to the video minutes for full discussion.

Outcome

That the Committee agreed the following recommendations to be presented to Cabinet and Council for approval:

1.               Agree that the Council enters into 50:50 controlled Limited Liability Partnership with Hill Investment Partnerships Limited and that this entity will have the authority to deliver against the agreed business plan(s).

2.         Delegate Authority to the Strategic Director, Corporate and Commercial Services in consultation with the Assistant Director, Legal and Democratic Services and the Chief Finance Officer, to negotiate and complete a Members Agreement and any other contractual and legal documents required to facilitate the setting up and operation of the Investment Partnership.

3.         Recommend that Council approves a one of draw down from the Dacorum Development reserve of £150k to cover the Council’s share of any potential external costs associated with scheme development for the initial Business Plan – which will come back to Cabinet by the end of the year - and delegates authority to the Strategic Director, Corporate and Commercial Services in consultation with the Assistant Director Legal and Democratic Services and the Chief Finance Officer to draw down funds for activities associated with this work.

4.         Notes an anticipated ongoing operating budget requirement (currently estimated at circa £140k per annum) for the Council’s share of the Investment Partnership’s operational costs which will come back to Cabinet by December 2025 for formal approval.

Action

Selection criteria to be added to the Cabinet report (M Angus)

N Howcutt presentedthe Medium Term Financial Strategy to the committee.

Please refer to the video minutes for full discussion.

Outcome

The committee reviewed and noted:

1.     The Medium Term Financial Strategy financial forecast 2025/26 to 2029/30 as set out in Appendix A to the report.

2.     The 5 year General Fund savings requirement of £2.5m for 2025–2030.

3.     That the Chief Finance Officer will work with the Council’s Strategic Leadership Team and Cabinet to deliver options that will achieve the medium-term saving targets identified within the strategy.

N Howcutt presented the provisional 2024/25 financial outturn position for the Council as at 31st March 2025.

Please refer to the video minutes for full discussion.

Outcome

The committee noted:

1.     The provisional 2024-25 provisional financial outturn position and associated reserve movements for the General Fund, Housing Revenue Account and Capital Programme.

2.     The proposed reserve movements, virements and supplementary budgets highlighted in the report.