Issue - meetings

Cabinet approved and adopted the Corporate Asset Plan 2020-2024 attached as Appendix A attached to the report from the Interim Director of Finance.

This decision was first published on Friday 4 October and so the deadline for call-in is Friday 11 October at 5pm.

Cabinet approved and adopted the Corporate Asset Plan 2020-2024 attached as Appendix A attached to the report from the Interim Director of Finance.

Cabinet considered a report on the Corporate Asset Plan for non-Housing Revenue Account assets in pursuance of key Business Plan priorities.

The Leader reminded those present that the Corporate Asset Plan was a national requirement.

Councillor Brian Milnes said that the Scrutiny and Overview Committee had welcomed the report and its potential benefit for Small and Medium Enterprises.

Cabinet approved and adopted the Corporate Asset Plan 2020-2024 attached as Appendix A attached to the report from the Interim Director of Finance.

The committee considered and discussed the Corporate Asset Plan which was presented by the Lead Cabinet Member for Finance and the Head of Commercial Development and Investment. It had been a statutory requirement for the Council to have a Corporate Asset Register since 2007.

Committee members were pleased to see the intention to manage and maintain property was reflected in the asset plan, and that there was a maintenance programme. The Deputy Leader of the Council highlighted the need to and importance of optimising the opportunities presented by the Council’s assets while recognising the responsibility to actively manage these. Committee members pointed out the potential insurance liability from not properly managing and maintaining the Council’s assets. Cabinet was receiving ongoing training on asset management. The Leader highlighted the need for a properly joined up asset management strategy which looked at the Council’s assets in their entirety and not in isolation. The committee felt that more emphasis should be given to the community benefit of some of the Council’s property.

Committee members suggested that consideration should be given to how the Council’s assets could be used to support small and medium sized enterprises (SMEs) and that more reference to this should be made in the plan. The Head of Commercial Development and Investment informed the committee that the Council was looking at how it could deliver flexible and shared work space at Northstowe for SMEs. Support for emerging businesses was also being looked at in the Council’s Investment Strategy and through further potential acquisitions at the Science Park and other areas, where market failure in the supply of suitably sized affordable business space had been identified.

Subject to the incorporation of this in the plan, the Scrutiny and Overview Committee supported the adoption of the Corporate Asset Plan.