Minutes of Special Finance Committee Meeting

Minutes (Open Portion)

Special Finance Committee Meeting

Page 3

3/07/2017

Special Finance Committee Meeting (Open Portion) held on Monday, 3 July 2017 at 5.19 pm in the Lady Osborne Room, Town Hall.

COMMITTEE MEMBERS

Thomas (Chairman)

Deputy Lord Mayor Christie

Zucco

Ruzicka

Sexton

PRESENT: Alderman D C Thomas (Chairman), the Deputy Lord Mayor Alderman R G Christie, Aldermen M Zucco, E R Ruzicka, the Lord Mayor Alderman S L Hickey, Aldermen J R Briscoe, H C Burnet, P S Cocker, T M Denison and W F Harvey.

APOLOGIES:

Alderman P T Sexton.

LEAVE OF ABSENCE: Nil.

ALDERMEN

Lord Mayor Hickey

Briscoe

Burnet

Cocker

Reynolds

Denison

Harvey

The Lord Mayor was co-opted to the Committee.

1. Co-Option of a Committee Member in the event of a vacancy

RUZICKA

That the Lord Mayor be co-opted to the Committee.

MOTION CARRIED

VOTING RECORD

AYES

NOES

Thomas

Deputy Lord Mayor Christie

Zucco

Ruzicka

2. Indications of Pecuniary and Conflicts of Interest

Ref: Part 2, Regulation 8(7) of the Local Government (Meeting Procedures) Regulations 2015.

Aldermen are requested to indicate where they may have any pecuniary or conflicts of interest in respect to any matter appearing on the agenda, or any supplementary item to the agenda, which the committee has resolved to deal with.

No interest was indicated.

3. Transfer of Agenda Items

Regulation 15 of the Local Government (Meeting Procedures) Regulations 2015.

A committee may close a part of a meeting to the public where a matter to be discussed falls within 15(2) of the above regulations.

In the event that the committee transfer an item to the closed portion, the reasons for doing so should be stated.

Are there any items which should be transferred from this agenda to the closed portion of the agenda, or from the closed to the open portion of the agenda?

No items were transferred.

4 Reports

4.1 2017/2018 Budget Estimates - Further Information

File Ref: F17/83947

RUZICKA

That the recommendation contained in the report of the General Manager of 30 June 2017, be adopted, amended by the following:

1. The addition of Clause 5 to read as follows:

“5. The capital works and long term financial management plan budget discussions for 2018-19 be returned to the Finance Committee by August 2017 for early consideration of rating and debt consideration rather than the usual cycle of reporting.”

AMENDMENT CARRIED

VOTING RECORD

AYES	NOES
Thomas
Deputy Lord Mayor Christie
Zucco
Ruzicka
Lord Mayor Hickey

SUBSTANTIVE MOTION CARRIED

VOTING RECORD

AYES	NOES
Thomas	Zucco
Deputy Lord Mayor Christie
Ruzicka
Lord Mayor Hickey

COMMITTEE RESOLUTION:

That: 1. Based on a reduction in the council’s debt profile, maintenance of a moderate surplus and lessening the impact on future rate increases, the Council endorse a rate increase of 3.25 per cent.

2. The Council endorse the revised 2017/18 capital works program with a further report on the balance of the 10 year program to be provided for Council consideration in November 2017.

3. The Council approve the Budget Estimates and rates resolution marked as Attachment E to item 4.1 of the Special Open Finance Committee agenda of 3 July 2017.

4. The General Manager be delegated the authority to make any minor and consequential amendments to the 2017/2018 Estimates document, 2017/2018 Annual Plan (marked as Attachment F to item 4.1 of the Special Open Finance Committee agenda of 3 July 2017), and Long Term Financial Management Plan given the amendments to the capital works program.

5. The capital works and long term financial management plan budget discussions for 2018-19 be returned to the Finance Committee by August 2017 for early consideration of rating and debt consideration rather than the usual cycle of reporting.

Delegation: Council

There being no further business the meeting closed at 5:30 pm.

TAKEN AS READ AND SIGNED AS A CORRECT RECORD THIS
18^th DAY OF JULY 2017.

CHAIRMAN