Agenda item

Report number: COU/WS/22/017

A.      Referrals from Cabinet: 21 June 2022

1.       Procurement Policy and Contract Procedure Rules

(Note: The new West Suffolk Council Procurement Policy (Appendix A to Report number CAB/WS/22/028) was approved by Cabinet on 21 June 2022.  The approval of the West Suffolk Council Contract Procedure Rules has been recommended to Council, as it requires changes to be made to the Council’s Constitution)

Portfolio holder: Councillor Sarah Broughton

B.      Referrals from Cabinet: 19 July 2022

An extraordinary meeting of Council was held on 26 July 2022 which considered a referral from Cabinet on 19 July 2022. There are no other referrals emanating from that meeting.

C.      Referrals from the Portfolio Holder for Resources and Property: 23 September 2022

These referrals have been compiled before the decisions have been taken by the Portfolio Holder for Resources and Property and are based on the recommendations contained within each of the reports listed below.  Any amendments made by the Portfolio Holder to the recommendations within these reports will be notified to members in advance of the meeting accordingly.

1.       Annual Treasury Management and Financial Resilience Report (2021 to 2022)

Portfolio holder: Councillor Sarah Broughton

2.       Treasury Management Report (June 2022)

Portfolio holder: Councillor Sarah Broughton

3.       Exempt item: Investing in our commercial portfolio

(This item is exempt and will be considered in private session. Please therefore see agenda item 13 below.)

Portfolio holder: Councillor Sarah Broughton

Council considered the referrals report of recommendations from Cabinet and the Portfolio Holder for Resources and Property, as contained within Report number: COU/WS/22/017.

A.      Referrals from Cabinet: 21 June 2022

1.      Procurement Policy and Contract Procedure Rules

It was noted that the new West Suffolk Council Procurement Policy (Appendix A to Report number CAB/WS/22/028) was approved by Cabinet on 21 June 2022.  The approval of the West Suffolk Council Contract Procedure Rules had been recommended to Council, as it required changes to be made to the Council’s Constitution.

Councillor Sarah Broughton, Portfolio Holder for Resources and Property drew relevant issues to the attention of Council.

Discussion was held on the percentage of the total number of business contracts made with the Council that were local to the district. This data was not held; however, local businesses did partake in the Council’s procurement processes.

Together with welcoming the key aims of the revised documents, as summarised in paragraph 1.3 of the referrals report, recognition was particularly given to promoting environmental sustainability to support the Council’s commitment to achieving carbon net zero by 2030; and to adhering to the Council’s Modern Slavery Statement.

On the motion of Councillor Broughton, seconded by Councillor Joanna Rayner, it was put to the vote and with the vote being 50 for the motion, none against and two abstentions, it was

Resolved:

That the constitutional changes, as set out in the revised West Suffolk Council Contract Procedure Rules at Appendix B to Report number CAB/WS/22/028, be approved.

B.      Referrals from Cabinet: 19 July 2022

An extraordinary meeting of Council was held on 26 July 2022 which considered a referral from Cabinet on 19 July 2022. There were no other referrals emanating from that meeting.

C.      Referrals from Portfolio Holder for Resources and Property: 23 September 2022

Following the sad death of Her Majesty Queen Elizabeth II and observing the period of national mourning, the Cabinet meeting arranged for 20 September 2022, was cancelled as a mark of respect.

As three of the items were due to be referred by Cabinet to Council for a final decision, the Portfolio Holder for Resources and Property was asked to make these decisions on behalf of Cabinet. These were to recommend to Council, approval of the recommendations set out in the relevant reports.

Following the publication of the agenda and papers for this meeting, which took place before the portfolio holder decisions were taken on 23 September 2022, the Chair confirmed that no changes had been made to the recommendations contained in the referral report.

1.      Annual Treasury Management and Financial Resilience Report (2021 to 2022)

Approval was sought for the Annual Treasury Management and Financial Resilience Report (2021 to 2022).

Councillor Sarah Broughton, Portfolio Holder for Resources and Property drew relevant issues to the attention of Council.

Reference was made to paragraph 1.6 of the referral report where it was questioned whether the external borrowing of £10 million created additional risk to the Council’s financial position rather than ‘….reduce the level of interest rate risk…’ as quoted. In response, members were informed that as it was an aspirational Council with several projects underway and in the pipeline which would benefit residents, businesses and visitors of West Suffolk, Council had previously approved a significant Capital Programme within its overall budget. External borrowing at a fixed rate of 1.84 percent was considered to be a very prudent decision to take at that time, which in turn reduced the level of interest rate risk the Council was currently exposed to.

On the motion of Councillor Broughton, seconded by Councillor Ian Houlder, it was put to the vote and with the vote being 51 for the motion, none against and one abstention, it was

Resolved:

That the Annual Treasury Management and Financial Resilience Report (2021 to 2022), as contained in Report number: FRS/WS/22/003, be approved.

2.      Treasury Management Report (June 2022)

Approval was sought for the Treasury Management Report (June 2022).

Councillor Sarah Broughton, Portfolio Holder for Resources and Property drew relevant issues to the attention of Council, including that £66.5 million worth of investments had been made by the Council, of which £5 million had been invested in Thurrock Council. Members may have already been aware of recent press coverage relating to the financial position of Thurrock Council. West Suffolk Council had loaned £5 million to Thurrock and the term of this loan was due to mature by 5 December 2022. The situation was being closely monitored and the Council’s Treasury Management Advisors, Arlingclose had indicated that existing investments with Thurrock Council were subject to financial protections in place for local authorities.

On the motion of Councillor Broughton, seconded by Councillor Carol Bull, it was put to the vote and with the vote being 51 for the motion, none against and one abstention, it was

Resolved:

That the Treasury Management Report (June 2022), as contained in Report number: FRS/WS/22/004, be approved.

3.      Exempt item: Investing in our commercial portfolio

This item was exempt and would therefore be considered in private session under agenda item 13 (see minute 250. below).