Meeting documents

To receive the Part I minutes of a meeting of the Policy Advisory Group held on 5 March 2012.

The minutes of the meeting of the Policy Advisory Group (PAG) held on 5 March 2012 were received.

In connection with minute 51 – Land West of Denham Road, Iver Heath – the Portfolio Holder referred to a letter he had received from the Clerk of Iver Parish Council challenging the comments that had been made at the meeting and said he was pleased to note that the Parish Council was in fact maintaining the land in accordance with the wishes of the District Council.

To consider report of Director of Services.

Chiltern District Council and Wycombe District Council are working together to procure a new waste contract and although the details and implications of the new contract for SBDC would not be known until September there was a possibility that Biffa Municipal Ltd, who provided a number of waste, recycling and street cleansing services on behalf of the Council, would be requested to vacate Chiltern’s Depot at London Road East, Amersham.

The PAG considered a report setting out a proposal to respond to this possibility and ensure continuity of services by redeveloping the Council’s depot at Dropmore Road to accommodate Biffa and the services they provide.

In connection with the key milestones, the PAG was particularly asked to note that, although abortive costs would have been incurred, the project could be brought to a halt at anytime should it become apparent that Biffa’s vacation of the London Road East Depot was no longer a possibility and that redevelopment of the Depot was no longer necessary.

The PAG also noted that the revenue effect of the proposal was in the sum of £48,000 and not £68,000 as stated in paragraph 6.1.

Having considered the details, including the revenue and capital costs (set out separately in a Part II report) and risks, the Portfolio Holder supported the proposal and accordingly AGREED to RECOMMEND to Cabinet and Council that

1.         provision be made in the Capital Programme in the sum identified in the Part II report to redevelop Drop more Depot

2.         provision also be made in the Revenue Budget in the sum of £48,000 for the project.

3.         authority be delegated to the Resources Portfolio Holder, in consultation with the Director of Services, to decide in October 2012 whether to award a contract to commence the works to the Dropmore Depot.

4          in due course the Dropmore Depot be leased to Biffa and their contract be varied to reflect its rent free occupation and their responsibility for maintaining the weighbridge, the contract budget to be altered accordingly.

5          the decision of the Director of Services to use his powers of urgency to waive Contract Procedure Rules requiring 3 quotes and appointing Biffa’s preferred Engineers on a consultancy basis at a cost of £45,000 capital be noted.

The Council’s Treasury Management function is a key element to the Financial Strategy which in turns feeds into the use of Resources, one of the Council’s Management Principles, and the PAG considered a report setting out the Treasury Management performance of the Council for 2011/12.

The report, after providing a reminder of the new matrix for in house investments as approved by members as part of the Treasury Management Strategy 2012/13, set out:

·        A summary of movements in the year

·        A summary of the Council’s holdings of callable and fixed deposits as at 31 March 2012

·        Investments in the first quarter of 2012/13

Appendix A1 set out the results of an exercise carried out by Sector to provide details of current corporate bonds that met the Council’s credit rating of AA- with duration of 18 months.

Appendix A2 set out the results of an exercise carried out by Sector to provide details of current corporate bonds with a credit rating of A with duration of up to 2 years whilst Appendix B gave a more detailed assessment of the economic background also provided by Sector

In respect of return on investment income for which a target of £900,000 had been set for 2011/12 the PAG noted there had been an under -achievement of £26k for the reasons set out in paragraph 7.1 of the report.

During the presentation the PAG was asked to note that the Credit Rating in respect of Cater Allen as set out in the table in paragraph 4.7 had been downgraded by Fitch to an A.

Referring to paragraph 4.9 of the report and the proposal to reduce further the credit criteria in respect of UK or Supranational institutions to an A thus adding a few investment opportunities the Portfolio Holder felt that this needed to be the subject of further discussion.

RESOLVED that the report be noted.

To note the following items contains exempt information, which is not for Publication to the press or public:

Members noted that the following items contained exempt information which was not available to the press and public.

Part I Minutes of the Policy Advisory Group held on 5 March 2012

(Schedule 12A part 1 (paras 1, 2 and 3)  - because of information relating to any individual/information which is likely to reveal the identity of any individual/information relating to the financial or business affairs of any particular individual)

1-6, Stoke Park

(Schedule 12A part 1 (paras 1 and 3) - because of information relating to any individual/information relating to the financial or business affairs of any particular individual)

Dropmore Road Depot

(Schedule 12A part 1 (paras 3 and 4) - because of information relating to the financial or business affairs of any particular individual/information relating to any consultations or negotiation)

Land Adjacent to No’s 2 Poyle Lane and 32E Grenville Close, Burnham

(Schedule 12A part 1 (paras 1 and 3)  - because of information relating to any individual/information relating to the financial or business affairs of any particular individual)

To receive the Part II minutes of the Resources Policy Advisory Group held on 5 March 2012.

To consider report of Director of Services.

To consider report of the Director of Services.