The meeting focused on various administrative and policy matters, including the approval of minutes, disclosures of interests, financial reports, and the re-establishment of a financial reporting working group. Significant discussions were held on the capital outturn report and the membership of the commercial asset subcommittee.

Financial Reports

• Revenue Carry Forward: The committee approved the request to carry forward £30,983 of 2023-2024 revenue expenditure to 2024-2025.
• Quarter Four Revenue Out-turn Report: The committee noted a reduction in the surplus at out-turn from £10,875,000 to £10,604,000, a difference of £271,000 for the year ending 31st March 2024. They also approved a reduction of £271,000 in the transfer to the sinking fund reserves.
• Capital Out-turn Report: The committee noted a £1,608,000 projected underspend against the estimated capital program for 2023-2024. They agreed to recommend to Council that capital projects totaling £2,990,000 be removed from the 2024-2025 estimated capital program.

Membership and Appointments

• Outside Bodies: The committee voted on and appointed representatives to various outside bodies, including Ashford and St Peter’s Hospital NHS Foundation Trust, Heathrow Committee Engagement Board, and Surrey Environment Partnership.
• Commercial Asset Subcommittee: The committee agreed on the membership of the Commercial Asset Subcommittee.
• Financial Reporting Working Group: The committee re-established the Financial Reporting Working Group and agreed on its terms of reference. Five members were nominated and agreed to sit on the working group.

Key Discussions

• Benwell One Project: There was a significant discussion regarding the Benwell One project, particularly around the budget and the number of units delivered. Councillor Nichols raised concerns about governance and the accuracy of the reported underspend.
• Staff Vacancies: Councillor Button raised concerns about the impact of staff vacancies on services. It was noted that while there are significant vacancies, temporary staff and contractors are being used to mitigate the impact on services.
• Use of Reserves: Councillor Guicher asked about the potential use of reserves for unexpected costs such as the best value inspection. It was clarified that while reserves could be used, such decisions would need to be approved by the Council.

Other Matters

• Health and Safety Policy: The committee adopted the corporate health and safety policy and agreed that the Chief Executive could approve minor variations to the policy.
• Exclusion of Public and Press: The committee agreed to exclude the public and press for certain items due to the likely disclosure of exempt information.

The meeting concluded with the committee entering a closed session to discuss exempt items.