The Overview and Scrutiny Committee of Fylde Council met on Monday, 10 June 2024, to discuss several key issues, including the scrutiny of the Treasury Management Strategy and Policies, and updates to the Overview and Scrutiny Work Programme for 2024/25. Decisions were made regarding the renewal of the agreement with Citizens Advice Lancashire West and 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 emphasised the importance of training for members to effectively scrutinise the council’s approach to treasury management. Clare James outlined the 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.
• The authorisation process of payments and spending limits.
• Changes to the Treasury Management Policy.
• Common themes among councils that have recently issued section 114 notices¹.
• The benefits of treasury management in supporting a balanced budget.
• Comparisons of Wyre Council’s reserves and balances with other councils in Lancashire.
• Wyre Council’s status as a debt-free council.
• The role of the Overview and Scrutiny Committee in holding the policy to account.
• Sharing the cost of future member training provided by Link Group with neighbouring authorities.
• Limited questions from councillors at Full Council.
• Audit reports on treasury management.
• The importance of member Strengths and Development Questionnaires to identify training needs.
• Availability of emergency funds.
• Bank satisfaction.
• Ethical investment possibilities.
• The council’s investment with Qatar.
• Options for investments within the UK only.
• The CIPFA Treasury Management in the Public Services: Code of Practice focus on environmental, social, and governance considerations.

Clare James 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, which were approved at the 7 March 2024 Council meeting.

Overview and Scrutiny Work Programme 2024/25 - Update and Planning Report

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

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

However, Cabinet could not accept the recommendation regarding digital kiosks as they were no longer being progressed by Citizens Advice.

Councillor Fail proposed 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 about 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 consideration at 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.