THE “CALL IN”PERIOD FOR THESE DECISIONS EXPIRES AT 5.00 PM ON THURSDAY, 28 FEBRUARY 2002. NONE OF THE DECISIONS CAN BE IMPLEMENTED UNTIL AFTER THAT DATE.

MINUTES OF A MEETING OF THE EXECUTIVE HELD AT COUNTY HALL, NEWPORT, ISLE OF WIGHT ON MONDAY, 18 FEBRUARY 2002 COMMENCING AT 9.30 AM

Present : 

Mrs S A Smart (Chairman), Mr R R Barry, Mr J A Bowker, Mr E Fox, Mr P G Harris, Mrs M A Jarman, Mrs B Lawson, Mr H Rees

Also present non-voting :

Mr A C Bartlett, Mr B C Buckle, Mrs T M Butchers, Mr M J Cunningham, Mr J H Fleming, Mrs D Gardiner, Mr P D Joyce, Mr C R Hancock, Mr C H Lillywhite, Mr R G Mazillius, Mrs M J Miller, Mr A J Mundy, Mr R A Sutton, Mr A A Taylor

142.    MINUTES

           RESOLVED :

THAT the Minutes of the meeting of the Executive held on 12 February 2002 be confirmed.

143.    PORTFOLIO HOLDER FOR RESOURCES

           (a)       Revenue Support Grant Settlement, The Island Council Budget for 2002/03, Council Tax 2002/03 and Forward Plan

The Portfolio Holder for Resources presented the report on the Revenue Support Grant Settlement, the Island Council Budget for 2002/03, Council Tax 2002/03 and Forward Plan. The Strategic Director for Finance & Information and County Treasurer, with the aid of slides, explained the detail of the report and compared the Island situation with the national picture.

It was noted that the draft recommendations as detailed in the report had been prepared by Directors following consultation with the Select Committees and other statutory consultees, and were formulated on the following basis:

                       •          That the bids for additional resources from Social Services be met in full;

                       •          That Education spending increase in line with the education SSA increase; and

                       •          That all the recommendations put forward by the Select Committees be met.

The Executive considered that although the budget process has included detailed consultation this could be further improved so that all members of the Council were involved in the process at an earlier stage.

RESOLVED TO RECOMMEND TO COUNCIL :

THAT the draft recommendations as set out in the report (Paper B1) be noted and that they be passed to Council for a final decision.

           (b)       Treasury Strategy 2002-03

The Portfolio Holder for Resources presented the report on the Treasury Strategy 2002-2003 which recommended to Council the Council’s proposed strategy for dealing with the management of all money and capital relating to the funding resources of the Council.

RESOLVED TO RECOMMEND TO COUNCIL :

                       (a)       THAT the Treasury Strategy for the financial year 2002-2003 set out in Appendix A of the report (Paper B2) be approved.

                       (b)       THAT the Strategic Director for Finance and Information and County Treasurer be authorized to vary the strategy according to prevailing conditions, provided

                                   (i)        that any significant variations are reported to the next following Executive meeting, and

                                   (ii)       it is in accordance with the provisions of Section 45 of the Local Government and Housing Act 1989.

CHAIRMAN