Content

10.1

To present for consideration and
approval, the Council’s Corporate Debt Policy.

 

 

10.2

RESOLVED
UNANIMOUSLY: That Finance Committee:-
 

1.    
approves the Council’s Corporate Debt Policy;
and
 

2.    
notes that relevant Council services will conduct a
review of their operational policies and practice, to ensure they
are in line with the Corporate Debt Policy following
adoption.

 

 

10.3

Reasons for Decision

 

 

10.3.1

The adoption of the Corporate Debt
Policy clarifies the Council’s position on its approach to
debt management, protecting the most vulnerable and modernising its
systems and processes accordingly, in line with good practice.
Putting in place an underpinning Corporate Debt Policy will help us
operate in a more coordinated way, building on existing good
practice. This will help ensure our customers are treated in a fair
and consistent manner, irrespective of the service they are dealing
with.

 

 

10.4

Alternatives Considered and Rejected

 

 

10.4.1

The Council could continue as it does
currently, dealing with the issues covered in the proposed policy
at an individual service level. Every service is different and
complete consistency of operational practice will not always be
necessary or possible, reflecting those different requirements.
However, a corporate policy provides a clearer benchmark for
overall strategic objectives and emerging good practice. As
explained in this report, the main downside of a service level
approach is it makes it more difficult for the Council to state its
overall position on such issues as an organisation.