Agenda and minutes

To receive any apologies for absence and notifications of substitutions.

Apologies for absence were received from Councillors M Hawkins, R Betton, M Eldon, L Jones-Bulman and L Patrick.

To receive declarations by Members and/or co-optees of disclosable pecuniary interests, other registrable interests and any other interests in respect of items on this agenda.

There were no Declarations of Interest received.

To consider whether the press and public should be excluded from the meeting during consideration of any items of business on the agenda.

RESOLVED that the press and public not be excluded from the meeting for any items of business on this occasion.

The Cumberland Section 151 (S151) Officer and the Portfolio Holder for Financial Planning and Assets provided the committee with an overview of the report before inviting members to ask questions.

Members thanked all the staff who worked on the Budget report for all their hard work.

Members had a discussion regarding the conversations had with the Department for Levelling Up, Housing and Communities (DLUHC), the possible options for financial assistance to fund transformation costs post vesting day and the consequences/risks that could come from both receiving and not receiving the money. The Portfolio Holder for Financial Planning and Assets noted that conversations were ongoing at high levels with DLUHC. The Chief Executive explained that detailed thought was being put in to deliver public services, whether permission for financial support arrangements was agreed by DLUHC or not, so that all outcomes were considered to ensure that all residents and especially the most vulnerable could receive the services they required. The S151 Officer noted that the budget included the repayment of any borrowing to fund transformation costs, including the 20 year time limit and MRP interest rate, and that Cumberland only had to start repaying once the borrowed amount was taken out.

A member asked about the capital assets of the council; the Chief Executive remarked that assets were part of an ongoing discussion, as an option was being given to be able to use capital receipts to pay off capital debt, especially with how assets are being used differently post-pandemic. But noted that discussions were still ongoing.

A member requested that a ‘Glossary of Terms’ be included within the Budget report in the future to help understand the acronyms included within the report.

Members had multiple discussions throughout the meeting regarding budget monitoring and Treasury Management. The S151 Officer confirmed that the Treasury Management included the financial delegation scheme which they would be happy to bring to the appropriate Scrutiny panel when practicable. It was then explained that the normal Treasury Management monitoring process through the Audit Committee and then Full Council but, as the strategy was not currently in place, the process had been delegated to the S151 Officer and the strategy would not be available until after April 2023. The Portfolio Holder for Financial Planning and Assets highlighted that all councillors needed to be involved in budget monitoring, with Cumberland planning to have an Executive monitoring process in place with regular quarterly reporting and the Executive minutes would also be available for Full Council to scrutinise. They also commented that it would be up to Scrutiny to decide within their work programme how they would like to participate in budget monitoring.

Members had multiple discussions throughout the meeting regarding outstanding accounts of the sovereign councils and their potential risks. The Chief Executive and S151 Officer noted that they were aware of all the potential risks from the outstanding accounts, especially in Copeland, but that further work would need to be done, through creating legacy plans, that would provide further  ...  view the full minutes text for item 4.

To note that the next meeting of the Committee will be held on 22March 2023 at 10.30 am at Cumbria House, Carlisle.

It was noted that the next meeting of the Committee would be held on Wednesday 22 March 2023 at Cumbria House, Carlisle.