Agenda item

Report of the Chamberlain.

The Committee considered a report of the Deputy Town Clerk recommending constitution of an Income Generation Working Party (IGWP) to oversee and make recommendations to Policy and Resources Committee pertaining to the City Corporation’s income generation options and opportunities.

During discussion of the item, a number of points were raised.  A Member expressed their strong support for an IGWP, whilst also emphasising a need for more ambition; the IGWP should focus on leveraging the City Corporation’s brand, assets and corporate profile to generate income.   The importance of investing in staff with commercial expertise was highlighted.  Clarity was sought on the reporting line into Policy and Resources Committee rather than Finance Committee given that most of the work would require financial arrangements.  It was stressed how the IGWP needed to avoid working in isolation and to ensure its efforts were fully integrated with other relevant initiatives and departments, with this approach helping to achieve a more cohesive and effective strategy for income generation and leveraging the strengths and resources of the entire organisation.  Clarification was sought on the the scope of the review and whether it would include the City Corporation’s Institutions.

In response to the points raised, it was explained that the IGWP was being established under Policy and Resources Committee given its funding was coming from the Policy Initiatives Fund.   The role of the IGWP would be to offer strategic leadership and look to pinpoint significant income generation opportunities.  There was a necessity to prioritise opportunities and to ensure that the most promising options were being pursued first.  Detailed business cases would need creating for each opportunity, outlining potential benefits, costs and implementation plans, ensuring each opportunity was thoroughly evaluated and planned before implementation.  The IGWP would be consulting with a range of stakeholders to ensure that strategic master planning was thorough and inclusive.  The approach outlined aimed to maximise the effectiveness of income generation opportunities at the City Corporation. 

A Member took the opportunity to remark on the excellent work of Ellie Robles, through focussing on a number of initiatives and commercial opportunities, and with her having been a fantastic addition to the City Corporation. The Chairman endorsed the Member’s comment, whilst adding that having now spoken to Ellie he was convinced the City Corporation would start getting some real income generation opportunities.

The Chairman moved to a vote on the item, following which a majority of Members voted in favour of it and there being four abstentions.   As such, the the item was approved.

RESOLVED: That Members: -

• Approved Option A, the creation of an Income Generation Working Party under the remit of the Policy and Resources Committee, as resourced and constituted in the terms set out in the Business Case (Appendix 1).
• Approved the allocation of £31,000 from the 2025/26 Policy Initiatives Fund (PIF) for the resourcing of this Working Party.