Agenda and minutes
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Contact: Rosemary Cole Sheena Jones
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apologies for absence Minutes: An apology for absence was received from Councillor R. D. Smith. |
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Declarations of Interest To invite Councillors to declare any Disclosable Pecuniary Interests or Other Disclosable Interests they may have in items on the agenda, and to confirm the nature of those interests. Minutes: There were no declarations of interest. |
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Pay Policy Statement 2017/18 Additional documents: Minutes: Members considered the report on the Pay Policy Statement 2017/18.
Members were reminded that the Localism Act required each Local Authority to approve a Pay Policy Statement each year for adoption by 31st March. All financial implications had been included in the budget setting process.
The Localism Act was prescriptive in setting out the following policies which must be included:
(a) the remuneration of its Chief Officers; (b) the remuneration of its lowest paid employees; and (c) the relationship between (i) the remuneration of its Chief Officers and (ii) the remuneration of its employees who are not Chief Officers
It was noted that as set out in paragraph 13 of the Pay Policy Statement, the costs of senior management posts were split between Bromsgrove District Council and Redditch Borough Council (and in the case of Head of WRS split between 6 Councils).
Whilst this was illustrated in the table in paragraph 13, with the figure in the final column being the cost to other Councils as in previous years, it was requested that in future for clarity this be shown as the cost to Bromsgrove District Council. Officers undertook to make this alteration for future years.
The Executive Director Finance and Resources also drew Members’ attention to the pay ratios set out in paragraph 26 of the report.
Following discussion it was
RECOMMENDED that the Pay Policy Statement as detailed in Appendix 1 to the report be approved. |
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Treasury Management Strategy Statement and Investment Strategy 2017/18 to 2018/19 Minutes: The Cabinet considered a report on the Treasury Management Strategy Statement and Investment Strategy 2017/18 to 2018/19.
The Executive Director Finance and Resources reminded Members that the report related to a statutory document which was required to be approved by Council by 31st March. The report related to the way in which Council investments are managed, including banking, money market and capital market transactions, together with how the risks are effectively controlled.
The Executive Director Finance and Resources confirmed that with interest rates at around 0.25% work was on going to look at different options for investment which still had a low risk profile. Investments were reviewed regularly in order to gain the best return and there was access to external advice on this.
Whilst the Council was currently debt free, the MTFP estimated that there would be a borrowing requirement over the next three financial years this was shown in table 1 in section 2.1 of the Strategy.
The Executive Director Finance and Resources also drew attention to the Prudential Indicators including the authorised borrowing limit of £15million.
Following discussion it was
RECOMMENDED: (a) that the Strategy and Prudential Indicators shown at Appendix 1 be approved; (b) that the Authorised Limit for Borrowing be approved at £15million, should borrowing be required; (c) that the maximum level of investment to be held within each organisation (i.e. Bank or Building Society) be as detailed at £2.5million, subject to market conditions; and (d) that the updated Treasury Management Policy shown at Appendix 2 be approved.
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Council Tax Resolutions 2017/18 Additional documents:
Minutes: The Cabinet considered the Council Tax Resolutions for 2017/18.
It was
RECOMMENDED that the Council Tax Resolutions for 2017/18 as detailed in Appendix 1 to the report be approved.
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