Agenda and draft minutes

Apologies for absence were received from Nick Bensted-Smith, Deputy Henry Colthurst, and Alderman Alison Gowman.

Deputy Henry Colthurst, Deputy Simon Duckworth and Paul Singh observed the meeting virtually.

The Town Clerk noted Mr Brooks Wilson’s standing declarations. There were no additional declarations.

To approve the public minutes and non-public summary of the meeting held on 14 December 2023.

The public minutes and non-public summary of the meeting held on 14 December 2023 were approved as a correct record.

To receive the Committee’s Forward Plan.

Members received the Committee’s forward plan.

Report of the City Surveyor.

Members received a report of the City Surveyor concerning the departmental business plan.

At the request of Members, officers undertook to return with further information on income generation options.

RESOLVED, that – Members:

a)    Note the factors taken into consideration in compiling the City Surveyor’s Departmental Business Plan; and

b)    Approve the departmental Business Plan 2024/25.

Report of the Chamberlain.

Members received a report of the Chamberlain concerning treasury management strategy.

A Member, also the Chairman of the Finance Committee, requested that officers consider a tripartite reporting approach for the Treasury Management Strategy, divided between City Fund, City’s Estate and City Bridge Foundation.

RESOLVED, that – Members approve the Treasury Management Strategy Statement and Annual Investment Strategy for 2024/25 (Appendix 1) for submission to the Finance Committee and the Court of Common Council as part of the City Fund 2024/25 Budget Report for formal adoption.

Report of the Chamberlain.

Members received a report of the Chamberlain providing a treasury management update.

RESOLVED, that – the report be received and its contents noted.

There were no questions.

There was no other business.

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 or relate to functions of the Court of Common Council which are not subject to the provisions of Part VA and Schedule 12A of the Local Government Act 1972.

RESOLVED, 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 or relate to functions of the Court of Common Council which are not subject to the provisions of Part VA and Schedule 12A of the Local Government Act 1972.

To approve the non-public minutes of the meeting held on 14 December 2023.

The non-public minutes of the meeting held on 14 December 2023 were approved as a correct record.

Matters arising

The Investment Property Director informed the Committee that a report would be submitted to the March meeting presenting Members with options on the future of Leadenhall Market.

To receive the note of the informal session of the Investment Committee’s meeting on 14 December 2023.

The note of the informal session held on 14 December 2023 was received and its contents noted.

Report of the City Surveyor.

Members received a report of the City Surveyor concerning property metrics.

Report of the City Surveyor.

Members received a report of the City Surveyor concerning the sale of a freehold interest.

Report of the City Surveyor.

Members received a report of the City Surveyor concerning the early closure of a project.

Report of the City Surveyor.

Members received a report of the City Surveyor providing information on delegations sought between December and January.

Report of Mercer.

Members received the Quarterly Monitoring report for Q4 2023; this report was produced by Mercer.

Report of the Chamberlain.

Members received a report of the Chamberlain concerning performance monitoring to 31 December 2023.

Report of the Chamberlain.

Members received a report of the Chamberlain concerning the performance of the Sir William Coxen Trust Fund.

Report of the Chamberlain.

Members received a report of the Chamberlain concerning the performance of the Hampstead Heath Trust and Charities Pool.

Report of the City Surveyor.

Members received a report of the City Surveyor concerning City Fund and City’s Estate.

Members agreed to extend the meeting under Standing Order 40.

Report of the City Surveyor.

Members received a report of the City Surveyor concerning the Investment Property Strategy for City’s Estate for 2024.

Report of the City Surveyor.

Members received a report of the City Surveyor concerning the Investment Property Strategy for City Fund in 2024.

Report of the Town Clerk.

Members received a report of the Town Clerk concerning action taken between meetings.

There were no questions.

There was no other business.