Agenda item

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.