Issue - meetings

The Chair welcomed Steve Browne, Corporate Director of Commissioning and Deputy Chief Executive; and Kate Lee, Head of Service Exchequer Services, to the meeting.

A presentation was provided outlining the specific funding streams and mechanisms that the County Council were subject to as part of its budget and medium term financial strategy (MTFS) and included further information on potential future funding models.

A range of issues were discussed by the Committee, including the importance of future funding streams and income generation, which members felt should be the subject of further investigation through a task and finish group.

Members noted that the County Council operated in accordance with the CIPFA guidance relating to local authority accounting, and that regular monitoring reports ("Money Matters") were considered by Cabinet. In relation to the arrangements for the allocation of the New Homes Bonus in Fylde and how Enterprise Zones feature within the Business Rate reform, a briefing note would be provided for members.

Resolved: That;

  i.  A Task Group be established to look at local authority funding, in particular increasing income streams to the council.

  ii.  Membership and detailed Terms of Reference for the Task Group be agreed with Group Secretaries, in consultation with the Chair.