MINUTES OF AN EXTRAORDINARY MEETING OF THE COUNCIL HELD AT COUNTY HALL, NEWPORT, ISLE OF WIGHT ON FRIDAY, 29 JULY 2005 COMMENCING AT 6.00 PM

Present :

Cllr J Effemey, (Chairman), Cllr B E Abraham, Cllr J R Adams, Cllr W Arnold, Cllr A Bishop, Cllr J A Bowker, Cllr I Bulwer, Cllr W R Burt, Cllr G Cameron, Cllr C B W Chapman, Cllr V Churchman, Cllr D Cousins, Cllr M J Cunningham, Cllr D Gardiner, Cllr C R Hancock, Cllr J Hobart, Cllr T Hunter-Henderson, Cllr G Lumley, Cllr R G Mazillius, Cllr W McRobert, Lady Pigot, Cllr D Pugh, Cllr S Scoccia, Cllr I R Stephens, Cllr R A Sutton, Cllr M Swan, Cllr A A Taylor, Cllr I Ward, Cllr M Webster, Cllr A Wells, Cllr C West, Cllr D Whittaker, Cllr D G Williams, Cllr J Wood

Apologies :

Cllr G H Brown, Cllr J Fitzgerald-Bond, Cllr B E Foster, Cllr H L Humby, Cllr P D Joyce, Cllr G Kennet, Cllr D J Knowles, Cllr M J Miller, Cllr B Mosdell, Cllr E Oulton, Cllr L J Peacey-Wilcox, Cllr G P Price, Cllr D Tuson, Cllr J Whittaker

29. DECLARATIONS OF INTEREST

There were no declarations of interest.

30. THE ANNUAL ACCOUNTS 2004/05 REPORT

The Annual Accounts 2004/05 Report was introduced by Cllr Jilly Wood, the Cabinet Member for Resources, Audit, an Efficient Council and Customer Champion, who moved an amended motion, which had been circulated to all Members.

The Leader seconded the amended motion.

During the debate, questions were asked regarding Pension Fund ethical investment policy; clarification of the meaning of a ‘regulated’ company, and the reasons behind the improved income of the Cowes Ferry. The Cabinet Member advised that a written response would be provided to Members.

RESOLVED:

THAT Full Council:

1. Approve the Statement of Accounts for 2004-2005.

2. Delegate to the Head of Legal and Democratic Services responsibility for amending the constitution to establish an Audit Committee which:

· Continues to have the requirement for political proportionality disapplied

· Comprises 7 members

· Elects it’s own Chair

· Consists of members nominated by Group Leaders, who have a background in accounting or budgetary control or who show a commitment to and interest in the finances of the Council

· Receives periodic reports from the Chairman of the Investment Panel identifying risks associated with management of the pension fund, and the strategies to address those risks

· Has the ability to report directly to the Full Council and the Cabinet.

3. Ask the Cabinet Members for Resources and for Care, Health & Housing, (as part of the negotiations of a Local Area Agreement and of integration of health and social care services) to explore fully the extent to which the Local Area Agreement structure can create greater opportunities for innovation than the existing powers to pool budgets and service provision under section 31 of the Health Act.

4. As part of the budget setting and service planning processes, the Cabinet Member for Resources identifies improvements in the management of underspends.

5. The Internal Audit Programme be amended to ensure that the Audit Committee can consider reports on:

· Deficits in trading operations

· Future liabilities involved in operating leases

· Underspends in the capital programme

And, in doing so, prioritises this work, to give earliest consideration to those issues which have the potential to deliver greatest benefit to the public purse.

The meeting closed at 6.20 pm.

CHAIRMAN