Policy And Resources Committee - 10/12/2001

At a MEETING of the FINANCE held at Dundee on 10th December, 2001.

Present:-

COUNCILLORS

Councillor George REGAN, Convener, in the Chair.

The minute of meeting of this Committee of 12th November, 2001 was held as read.

Unless marked thus * all items stand delegated.

I SUPERANNUATION INVESTMENT SUB-COMMITTEE

The minutes of meetings of the Superannuation Investment Sub-Committees of 20th June and 21st November, 2001, copies of which are appended hereto were submitted for information and record purposes. (Appendix I and II).

II AUDIT SUB-COMMITTEE

The minute of meeting of the Audit Sub-Committee of 19th June 2001, a copy of which is appended hereto, was submitted for information and record purposes (Appendix III).

III CAPITAL MONITORING

After considering Report No. 761-2001 by the Director of Finance appraising the members on the latest position regarding the Council's expenditure programme for 2001/2002 the Committee noted the contents of the Report.

IV REVENUE MONITORING

There was submitted Report No. 776-2001 by the Director of Finance providing the Committee with analysis of the 2001/2002 Projected Revenue Outturn as at 31st October 2001 monitored against the adjusted 2001/2002 Revenue Budget.

The Committee:-

(a) noted that the overall General Fund 2001/2002 Project Revenue Outturn as at 31st October 2001 showed an overspend of 1,212,000 against the adjusted 2001/2002 Revenue Budget.

(b) noted that the Housing Revenue Account Projected Outturn was in line with the approved 2001/2002 Final Revenue Budget.

(c) instructed the Director of Finance to take every reasonable action to eliminate the projected overspend referred to in (a) above.

(d) instructed the Director of Finance, in conjunction with all Chief Officers of the Council to continue to monitor the Council's 2001/2002 Projected Revenue Overtturn.

V RELIEF ON RATES - CHARITY RELIEF

There was submitted Report No. 755-2001 by the Director of Finance seeking authorisation to grant charity relief on the undernoted non-domestic properties.

The Committee approved accordingly.

VI INTEGRATED RISK MANAGEMENT

There was submitted Report No. 542-2001 by the Director of Finance providing the Committee with an overview of the Council's current approach to the management of risk and highlighting improvements that may be made.

The Committee;-

(a) approved the Strategic and Employee Risk Management Statements within the appendix to this report.

(b) agreed that the Audit Sub-Committee be changed to the Audit and Risk Management Sub-Committee to formally address risk issues on a corporate basis.

(c) approved the increase in Risk Management funding from 100,000 to 150,000 by 2003/2004.

VII TREASURY MANAGEMENT ACTIVITY 2001/2002 (SIX MONTHS TO 30TH SEPTEMBER, 2001)

There was submitted Report No. 769-2001 by the Director of Finance reviewing the Treasury Management activities for the period 1st April 2001 to 30th September 2001.

The Committee noted the information contained therein.

VIII DUNDEE CITY COUNCIL - ANNUAL ACCOUNTS 2000-2001

(a) AUDITED ABSTRACT OF ACCOUNTS

The above accounts were submitted and noted (Report No. 790-2001).

(b) DSO'S ANNUAL REPORTS AND ACCOUNTS

The above reports were submitted and noted (Report No. 791-2001).

(c) DLO ANNUAL REPORT AND ACCOUNTS

The above accounts were submitted and noted (Report No. 792-2001).

(d) EXTERNAL AUDITOR'S REPORT

The above report was submitted and noted.

(e) EXTERNAL AUDITOR'S REPORT - RESPONSE BY DUNDEE CITY COUNCIL

There was submitted Report No. 794-2001 by the Director of Finance in response to the report prepared by the Council's external auditor Henderson Logie on the audit of the City Council's accounts for the year ended 31st March, 2001.

The Committee endorsed the report as its formal response to the external auditor's report and instructed the Director of Finance to arrange for the completion of the action plan appended to the external auditor's report.

IX ASSOCIATION OF LOCAL AUTHORITY RISK MANAGERS IN SCOTLAND

The Committee noted that the Council's Principal Insurance and Risk Management Officer, Graeme McKenzie, had been elected the new chairperson of the Association of Local Authority Risk Managers in Scotland (ALARMS).

The Committee resolved under Section 50(A)(4) of the Local Government (Scotland) Act 1973, that the press and public be excluded from the meeting for the undernoted item of business on the grounds that it involved the likely disclosure of exempt information as defined in paragraphs 6 and 9 of Part I of Schedule 7(A) of the Act.

X RELIEF OF NON-DOMESTIC RATES ON THE GROUNDS OF HARDSHIP

After considering Report No 775-2001 by the Director of Finance the Committee agreed to grant relief of rates as detailed in the report.

GEORGE REGAN, Convener.