Issue - meetings

Report of the Cabinet Member Finance

The Cabinet Member Finance introduced the report and explained that the Council’s current Asset Management Plan expired in 2015. He reported that advice had been received from CIPFA to review the approach to Asset Management which would help shape future thinking including the role of members in making decisions and reviewing the performance of the property portfolio. Therefore a more dynamic and purposeful document had been drawn up focused around a small number of clear, forward looking policy objectives.

The Cabinet Member explained that the Asset Management Plan was crucial in making a number of important linkages with the corporate strategy, the medium term financial strategy and with the Cheltenham economic development strategy. The key objective of the asset management policy was to use assets to generate income and cut costs.

The Cabinet Member made reference to the Athey consultant’s report which recently reported on the economic strategy. It highlighted the positive contribution the Cheltenham Development Task Force had made to promoting economic development but more work was required to bring forward more sites for commercial development. This was a key issue for the Council’s asset management.

The Cabinet Member highlighted the new draft terms of reference for the Asset Management Working Group, approved by the group at its last meeting and which would give them a more strategic role in asset management.

The Planned Maintenance Budget of £846 k which represented a substantial investment in the council’s assets was also highlighted by the Cabinet Member. He reported that at the same time a new 10 year planned maintenance programme was being worked up to provide a longer term view about the need for further investment. 

New capital projects were detailed in Appendix 4 of the report. These had been assessed and scored by a panel of officers against the corporate objectives, deliverability, likely costs and return on investment and feedback from the public consultation. The Cabinet Member emphasised that this had not been an easy process and at this stage some of the proposals required more work. High priority would however be given to projects which could attract additional external funding, such as the town hall redevelopment scheme.  This scheme had been most highly rated by the public in the public consultation. He reported that some time ago consultants had been asked to look at how the Town Hall could be improved and updated and a plan had been drawn up to increase capacity of the main hall, improve the flow of people around the building and create new dedicated spaces for events and create new hospitality and catering facilities. He proposed to earmark £2.4 million for this project (£2.2 million from the £8 million capital pot and a further £200 000 still to be found from future capital receipts). He reported that £400k should be made available immediately so that the project could be worked up in enough detail to go forward to potential funders such as the Heritage Lottery Fund and charitable trusts. It was estimated that  ...  view the full minutes text for item 8

Report of the Cabinet Member Finance

RESOLVED THAT

1.     the Asset Management Policy (forming part of the Asset Management Plan) at Appendix 2 be approved.

2.     the revised Terms of Reference for the Asset Management Working Group at Appendix 3 be approved.

Council be recommended to :

3.     Approve the Planned Maintenance Programme for 2015/16 at Appendix 5.

4.     Approve the provisional allocation of the receipt of North Place / Portland Street car parks to support key property investment aspirations at Appendix 4.

The Cabinet Member Finance introduced the report and explained that the Council’s current Asset Management Plan expired in 2015. He reported that advice had been received from CIPFA to review the approach to Asset Management which would help shape future thinking including the role of members in making decisions and reviewing the performance of the property portfolio. Therefore a more dynamic and purposeful document had been drawn up focused around a small number of clear, forward looking policy objectives.

The Cabinet Member explained that the Asset Management Plan was crucial in making a number of important linkages with the corporate strategy, the medium term financial strategy and with the Cheltenham economic development strategy. The key objective of the asset management policy was to use assets to generate income and cut costs.

The Cabinet Member made reference to the Athey consultant’s report which recently reported on the economic strategy. It highlighted the positive contribution the Cheltenham Development Task Force had made to promoting economic development but more work was required to bring forward more sites for commercial development. This was a key issue for the Council’s asset management.

The Cabinet Member highlighted the new draft terms of reference for the Asset Management Working Group, approved by the group at its last meeting and which would give them a more strategic role in asset management.

The Planned Maintenance Budget of £846 k which represented a substantial investment in the council’s assets was also highlighted by the Cabinet Member. He reported that at the same time a new 10 year planned maintenance programme was being worked up to provide a longer term view about the need for further investment. 

New capital projects were detailed in Appendix 4 of the report. These had been assessed and scored by a panel of officers against the corporate objectives, deliverability, likely costs and return on investment and feedback from the public consultation. The Cabinet Member emphasised that this had not been an easy process and at this stage some of the proposals required more work. High priority would however be given to projects which could attract additional external funding, such as the town hall redevelopment scheme.  This scheme had been most highly rated by the public in the public consultation. He reported that some time ago consultants had been asked to look at how the Town Hall could be improved and updated and a plan had been drawn up to increase capacity of the main hall, improve the flow of people around the building and create new dedicated spaces for events and create new hospitality and catering facilities. He proposed to earmark £2.4 million for this project (£2.2 million from the £8 million capital pot and a further £200 000 still to be found from future capital receipts). He reported that £400k should be made available immediately so that the project could be worked up in enough detail to go forward to potential funders such as the Heritage Lottery Fund and charitable trusts. It was estimated that  ...  view the full minutes text for item 12

This item has been withdrawn from the agenda.

The Leader informed Members that this item had been withdrawn from the agenda. The intention was to convene a special meeting of Cabinet prior to the scheduled meeting of Council on 30 March. The issue to be discussed would be the potential new office accommodation for the organisation however at this stage the timing of the report was uncertain.