Policy And Resources Committee - 20/03/2006

At a MEETING of the FINANCE COMMITTEE held at Dundee on 20th March 2006.

Present:-

BAILIES

COUNCILLORS

Councillor Fraser MACPHERSON, Convener, in the Chair.

The minute of meeting of this Committee of 13th February, 2006 was held as read.

Unless marked thus * all items stand delegated.

I MINUTE OF MEETING OF THE SUPERANNUATION INVESTMENT SUB-COMMITTEE

The minute of meeting of the Superannuation Investment Sub-Committee of 1st March 2006 a copy of which is appended hereto was, except as hereinafter noted, submitted for information and record purposes.

INVESTMENT IN TOBACCO

On the reading of Article I of the minute relative to the above subject the Convener intimated that the Depute Minister for Finance, Public Service Reform and Parliamentary Business had indicated that no legislative change was being proposed.

The Convener further advised that the views of other local authorities would be reported to members of the Sub-Committee.

The Committee noted accordingly.

II RELIEF OF RATES - CHARITY RELIEF

There was submitted Report No 180-2006 by the Depute Chief Executive (Finance) seeking authorisation to grant charity relief on the undernoted non-domestic property.

The Committee approved accordingly.

III REVENUE MONITORING 2005/2006

There was submitted Report No 177-2006 by the Depute Chief Executive (Finance) providing the Committee with an analysis of the 2005/2006 projected revenue outturn as at 31st January 2006 monitored against the adjusted 2005/2006 revenue budget.

The Committee,

(i) noted that the overall General Fund 2005/2006 Projected Revenue Outturn as at 31st January 2006 showed an underspend of 16,000 against the adjusted 2005/2006 Revenue Budget.

(ii) noted that the Housing Revenue Account Projected Outturn was projecting an overspend of 410,000 against the adjusted 2005/2006 Revenue Budget.

(iii) 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.

(iv) 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 168-2006 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 TREASURY MANAGEMENT STRATEGY 2006/2007

On a reference to Article V of the minute of meeting of this Committee of 18th April 2005 there was submitted Report No 178-2006 by the Depute Chief Executive (Finance) introducing the Dundee City Treasury Management Strategy for 2006/2007.

The Committee,

(ii) noted that in terms of the Treasury Policy Statement, the Depute Chief Executive (Finance) was obliged to present the annual Treasury Management Strategy at the start of each financial year.

(ii) approved the strategy proposed by the Depute Chief Executive (Finance) for 2006/2007 as set out in the document "Treasury Management Strategy 2006/2007".

VI COUNTER-FRAUD REPORT - OCTOBER TO DECEMBER 2005

There was submitted Report No 184-2006 by the Depute Chief Executive (Finance) detailing the Council's Housing Benefit and Council Tax Benefit Counter-Fraud activity for the period October to December 2005.

The Committee noted the Counter-Fraud activity.

VII THE ROYAL BRITISH LEGION SCOTLAND - DUNDEE FESTIVAL OF REMEMBRANCE

It was reported that a request had been received from The Royal British Legion Scotland to meet the cost of hiring the Caird Hall complex on 4th November 2006 for the Dundee Festival of Remembrance at an estimated cost of 876 together with ancillary costs.

The Committee approved accordingly.

VIII DUNDEE LEISURE - ADMISSION TO LOCAL GOVERNMENT PENSION SCHEME

Councillors Duncan and Wallace declared non-financial interests in this item by virtue of being Council Representatives on the Dundee Leisure Trust Board.

There was submitted Report No 193-2006 by the Depute Chief Executive (Finance) relative to the above.

The Committee agreed to Dundee Leisure being admitted to the Local Government Pension Scheme administered by Dundee City Council in the event that Dundee Leisure became a body in its own right and applied for an admission agreement.

FRASER MACPHERSON, Convener