Issue - meetings

Mr D Shipton, Finance Strategy Manager, was in attendance for this item.

1.         Mr Shipton introduced the report and explained that the latest exceptions report would go to the next meeting of Cabinet and thence to the November POSC meeting.  The Local Authority Business Growth Incentive Scheme (LABGI) grant had been removed this year, but this had already been planned for and the impact accommodated. 

2.         In response to a question, Mr Shipton explained that, if cuts were required, he expected them to be gross rather than net.  The difference between the two was mainly made up of ring-fenced grants, and, if grants were cut, the ring-fencing would end, giving greater flexibility over how grants were spent.

3.         Members commented that, although the Regeneration budget was small, it should not be overlooked.  Its relatively small monetary value was outweighed by the influence that the KCC could exert.

4.         The Chairman reminded Members that the POSC had decided at its July meeting that he and the Vice-Chairman would keep a watching brief and decide whether or not the POSC needed to convene an Informal Member Group (IMG).

5.         RESOLVED that the information set out in the report and in response to Members’ questions be noted, with thanks, and that the Chairman and Vice-Chairman continue to keep a watching brief for any need for an IMG to look at the POSC’s budget.