Peter Nathan

...to procure and award contracts for an SAP ERP S/4 HANA platform, a system integrator, a consultant for assurance, and a specialist provider for archiving records, all to update and maintain the Council's Finance and HR capabilities.

... to approve new risk reserve targets, a £10.7m transfer to risk reserves contingent on government approval of funding overspends with proceeds from asset sales, a £34.0m carry forward of unspent capital budget, a revised £521.6m capital programme budget, and delegate authority for final adjustments to the 2024/25 Statement of Accounts, while noting an overall overspend, funding for demand-led overspends via asset sales pending government approval, progress on savings, risk reserve levels, a Dedicated Schools Grant deficit, and capital expenditure details.

...to note the Treasury Outturn position for 2024/25, recommend to Council an update to the Council’s investment policy by increasing the limit on deposits placed with UK Banks from £5m to £25m providing the counter party meets the minimum long term credit rating of A-, and recommend to Council an increase in the proportion of principal loan repayments allowed to fall due in ten years from 45% to 50% to provide flexibility for new borrowing whilst maintaining the stability of the loan’s portfolio.

...Members of the Council noted the written responses to council questions, asked supplementary questions, and noted that written responses would be provided after the meeting for questions 2, 4, 6, and 8.