Agenda and minutes

Apologies were received from Deputy Michael Cassidy and Alderman Sir Robert Finch.

Deputy Catherine McGuinness declared a personal interest in matters affecting the Guildhall School as her daughter attended the School.

To agree the public minutes of the meeting held on 17 January 2013 (copy attached).  

The public minutes and summary of the meeting held on 17 January 2013 were approved.

Report of the Chamberlain (copy attached).

The Sub-Committee considered a report of the Chamberlain forecasting capital and supplementary revenue projects expenditure for the next planning period (2012/13 to 2016/17), the sources of anticipated funding and the impact on the finances of the three main funds.

The Chairman referred to the current mechanism for raising funds and asked officers to look into whether it was logical to invest in cash rather than investing in property particularly as the latter provided a better return.

RESOLVED – That:-

1.   the content of the report be noted;

2.   £6m to be set aside in 2016/17 as a provision for new schemes (£3m each for City Fund and City’s Cash); and

3.  officers be requested to look into whether it was logical to invest in cash rather than investing in property bearing in mind that the latter provided a better return and report back.

There were no questions on matters relating to the work of the Sub-Committee.

There were no items of urgent business for consideration.

MOTION - That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part I of the Schedule 12A of the Local Government Act.

Part 2 – Non-Public Agenda

Motion – That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part 1 of Schedule 12A of the Local Government Act.

Item Nos.                                                           Paragraph(s) in Schedule 12A 

8 - 10                                                                  3

Part 2 – Non-Public Agenda

There were no questions on matters relating to the Sub-Committee.

There were no items of urgent business for consideration.