The Overview and Scrutiny Committee of Wyre Borough Council met on Monday, 10 June 2024, to discuss the scrutiny of the Treasury Management Strategy and Policies, and to update and plan the Overview and Scrutiny Work Programme for 2024/25. Key decisions included the renewal of the agreement with Citizens Advice Lancashire West and suggested amendments to the call-in procedure rules.

Scrutiny of the Treasury Management Strategy and Policies

Clare James, Director of Finance and Governance (S151 Officer), presented a question and answer pack as part of the required Treasury Management training for the committee. She emphasized the importance of training for members to effectively scrutinise the council’s treasury management approach. Clare highlighted three key principles of treasury management: security, liquidity, and yield.

Members raised several questions and discussed various topics, including:

• The role of the Government in assisting councils in financial difficulties.
• Lending to other local authorities.
• The council’s arrangement with Link Group asset services.
• Delegation to the Section 151 Officer and other finance team members.
• Authorisation process of payments and spending limits.
• Changes to the Treasury Management Policy.
• Common themes among councils that had issued section 114 notices¹.
• Benefits of treasury management in supporting a balanced budget.
• Comparison of Wyre Council’s reserves and balances with other Lancashire councils.
• Maintaining Wyre Council’s debt-free status.
• The role of the Overview and Scrutiny Committee in holding the policy to account.
• Sharing the cost of future member training with neighbouring authorities.
• Limited questions from councillors at Full Council.
• Audit reports on treasury management.
• Importance of member Strengths and Development Questionnaires for identifying training needs.
• Availability of emergency funds.
• Bank satisfaction.
• Ethical investment possibilities.
• The council’s investment with Qatar.
• Options for UK-only investments.
• The CIPFA Treasury Management in the Public Services: Code of Practice focus on environmental, social, and governance considerations.

Clare encouraged members to revisit the Treasury Management Policy Statement and Practices, Treasury Management and Annual Investment Strategy, Minimum Revenue Provision Policy Statement, and Capital Strategy 2024/25, approved at the 7 March 2024 Council meeting, and to contact her with any further questions.

Overview and Scrutiny Work Programme 2024/25

Clare James also submitted a report on the Overview and Scrutiny Work Programme for 2024/25. Councillor Cartridge, the Chair, updated members on Cabinet’s consideration of recommendations from the Citizens Advice Lancashire West task group. The key decisions were:

• Renewing the agreement between the council and Citizens Advice Lancashire West for four years.
• Increasing the grant contribution payment to Citizens Advice Lancashire West from £30,000, including free use of Fleetwood Market units worth £18,000.
• Formalising the use of units at Fleetwood Market within an updated service level agreement.

Cabinet did not accept the recommendation to progress digital kiosks as Citizens Advice was no longer pursuing this initiative.

Councillor Fail suggested amendments to the call-in procedure rules, including allowing more than one call-in spokesperson and ensuring councillors who called in a decision are consulted on the meeting date. The committee agreed to suggest an amendment to part 16.3 of the Overview and Scrutiny Committee Procedure Rules to allow for the nomination of a substitute spokesperson if necessary. Democratic Services will produce best practice and benchmarking from other councils on call-in procedures, along with a draft updated Wyre Council call-in procedure rules for the next meeting.

Marianne Unwin, Democratic Services and Scrutiny Manager (Temporary), clarified that any amendments to the Constitution would require review by the Chief Executive, the Leader of the Council, and final approval by Full Council.