Agenda and minutes

To receive apologies for absence.

Apologies for absence were received from Cllr Kevin Deanus.

To receive from members, declarations of interest in relation to any items included on the agenda for this meeting, in accordance with the Waverley Code of Local Government Conduct.

There were no declarations of interest raised under this heading.

To consider the following recommendation on the motion of the Chairman:-

Recommendation

That, pursuant to Procedure Rule 20, and in accordance with Section 100A(4) of the Local Government Act 1972, the press and public be excluded from the meeting during consideration of the following item(s) on the grounds that it is likely, in view of the nature of the business to be transacted or the nature of the proceedings, that if members of the public were present during these items, there would be disclosure to them of exempt information (as defined by Section 100I of the Act) of the description specified at the meeting in the revised Part 1 of Schedule 12A to the Local Government Act 1972.

Background Papers

Unless specified under an individual item, there are no background papers (as defined by Section 100D(5) of the Local Government Act 1972) relating to the reports in Part I of these minutes.

To consider the (Exempt) report on this matter, as attached.

The Executive considered the report on this matter and now

RECOMMENDS that

17.       the recommendations set out in the (Exempt) Annexe to these minutes be approved.

To consider the (Exempt) report on this matter, as attached.

The Executive considered the report on this matter and now

RECOMMENDS that

18.       the recommendations set out in the (Exempt) Annexe to these minutes be approved.

The background papers relating to the following items are as set out in the reports included in the original agenda papers.

In October 2016 the Council approved Waverley’s General Fund Property Investment Strategy and the creation of the Investment Advisory Board (IAB). This report updates the Executive on progress on revising the Strategy which aims to:

·        develop the strategic themes and the rationale for investment

·        provide a flexible and robust policy framework on which to base investment decisions

·        update the financial context in the light of the latest financial strategy

·        build on the experience from acquisitions considered and made in the year

·        reflect the current market and external advice

·        ensure that appropriate decision making arrangements are in place to facilitate sound and timely investment transactions.

Recommendation

It is recommended that the Executive:

1.            Notes the progress of the review of the Investment Strategy; and

2.            Endorses the approach being taken.

[Cllr Gray attended and spoke on this item]

RESOLVED  that

1.            the progress of the review of the Investment Strategy be noted; and

2.            the approach being taken be endorsed.