Policy And Resources Committee - 12/12/2005

At a MEETING of the FINANCE COMMITTEE held at Dundee on 12th December 2005.

Present:-

BAILIES

COUNCILLORS

Councillor Fraser MACPHERSON, Convener, in the Chair.

The minute of meeting of this Committee of 14 November 2005 was held as read.

Unless marked thus * all items stand delegated.

I MINUTE OF SUPERANNUATION INVESTMENT SUB-COMMITTEE

The minute of meeting of the Superannuation Investment Sub-Committee of 16th November 2005, a copy of which is appended hereto, was submitted for information and record purposes.

II RELIEF OF RATES - CHARITY RELIEF

There was submitted Report No 714-2005 by the Depute Chief Executive (Finance) seeking authorisation to grant charity relief on the undernoted non-domestic properties:-

The Committee approved accordingly.

III REVENUE MONITORING

There was submitted Report No 713-2006 by the Depute Chief Executive (Finance) providing the Committee with analysis of the 2005/2006 Projected Revenue Outturn as at 31st October 2005 monitored against the adjusted 2005/2006 Revenue Budget.

The Committee -

(a) noted that the overall General Fund 2005/2006 Projected Revenue Outturn as at 31st October 2005 showed an overspend of 147,000 against the adjusted 2005/2006 Revenue Budget.

(b) noted that the Housing Revenue Account Projected Outturn was projecting an overspend of 272,000 against the adjusted 2005/2006 Revenue Budget.

(c) instructed the Depute Chief Executive (Finance) to take every reasonable action to ensure that the 2005/2006 Revenue expenditure was below or in line with the adjusted Revenue Budget.

(d) instructed the Depute Chief Executive (Finance) in conjunction with all Chief Officers of the Council to continue to monitor the Council's 2005/2006 Projected Revenue Outturn.

IV CAPITAL MONITORING

There was submitted Report No 711-2005 by the Depute Chief Executive (Finance) appraising members of the latest position regarding the Council's Capital Expenditure Programme for 2005/2006.

The Committee noted the contents of the report.

V INVESTMENT IN TOBACCO

On a reference to Article I of the minute of meeting of the Superannuation Investment Sub-Committee of 16th November 2005 there was submitted Report No 710-2005 by the Depute Chief Executive (Finance) updating the Committee on the issue of investments in Tobacco Companies being considered by the Superannuation Investment Sub-Committee.

The Committee noted that the Sub-Committee had agreed that the Depute Chief Executive (Finance) write to the appropriate Scottish Executive Minister advising him of the views of the Council and seeking a meeting with the Minister to discuss the need for new or clearer legislation enabling administering authorities of Local Government Pension Schemes Funds to take social, environmental and ethical issues into account in their investment decisions and policies.

In addition it was agreed that other local authorities in Scotland be advised of this Council's views.

VI DUNDEE CITY COUNCIL ACCOUNTS 2004/05

(a) STATEMENT OF ACCOUNTS

The above report was submitted and noted (Report No 693-2005).

(b) EXTERNAL AUDITOR'S REPORT

The above report was submitted and noted (Report No 692-2005)

(c) EXTERNAL AUDITOR'S REPORT - RESPONSE FROM DUNDEE CITY COUNCIL

There was submitted Report No 691-2005 by the Depute Chief Executive (Finance) in response to a report by the Council's external auditor on the audit of Dundee City Council for the year to 31st March 2005.

The Committee endorsed the report as its formal response to the external auditor's report and noted the action plan appended to the report.

FRASER MACPHERSON, Convener.