To consider the recommendation of the Cabinet in respect of the above.

The Council received the submitted report which provided a high-level budget summary of the Council’s final revenue and capital position for the financial year 2022/23 and subsequent revised officer recommendations (dated 12 October 2022).  The Council also received the report of the Overview and Scrutiny Board (arising from its meeting on 12 October 2022) and noted that the Cabinet had held an extra meeting met prior to the Council meeting to review the report.

Councillor Cowell proposed and Councillor Steve Darling seconded a motion, which was agreed by the Council as set out below:

That Council be recommended:

1.    to defer consideration of the Officer revised recommendations 1, 2 and 3 (published on 11 October 2022) in light of the Overview and Scrutiny Board’s recommendation (arising from its meeting on 12 October 2022) for the Council to receive further information and the Directors of Place and Finance be requested to report the further information and recommendations to an additional Overview and Scrutiny Board and Extraordinary Council, both meetings to be held by the end of October 2022; and

2.    that the TorVista Homes working capital facility be increased from £1.0m to £1.5m with the rate of interest on the loan to be determined by the Chief Finance Officer linked to prevailing council investment returns on the date of drawdown.

(Note: Prior to consideration of Minute 44, Councillor O’Dwyer declared his non-pecuniary interest as a Council’s appointed member on the TDA Board.)