Decision details

The Leader of the Council presented the report of the Cabinet meeting held on 7 December 2022 and moved the adoption of the recommendations.  Cllr Andrews seconded the motion.

Paragraph 4 – Medium Term Financial Plan 2022 Onwards

One Member questioned, having adopted the Asset Investment Strategy, how the Council would use the revenue from assets achieved through the strategy.  The Portfolio Holder for Finance, Investment and Corporate Services highlighted that the revenue would enter the Council’s general fund, and the general fund priorities were outlined in the Medium Term Financial Plan (MTFP), demonstrating the use of this additional income.  The Council awaited the provisional local government finance settlement to understand further impact to the MTFP.

Paragraph 7 – Solent Freeport HM Government Memorandum of Understanding

Note – Cllr E Heron requested that his abstention from the above, be recorded.

RESOLVED:

That the report be received and the recommendations be adopted.