Agenda item

The Chief Executive reported there were two questions from members of the public.

Question asked by Mr Darron Abbott pursuant to paragraph 11 of the Rules of Procedure as set out in the Constitution.

“A couple of year ago the Council invested around £20 million pound in property funds. Please could you give the current valuations of these funds and the income received by the council from these funds in the current financial years.”

Response by Councillor Jonathan Noble

“‘Thank you for your question Mr Abbott. I would point out that there is a typographical error in the response provided to Mr. Abbott and the year quoted should be 2020/21 not 2021/22. The current valuation of our Property Funds’ investments is £19,152.000. We budget to receive £977,000 per annum as a return on our Property Funds’ investments and the latest projection for this financial year, 2020-21, is that the return will be £897,000.

The Council has received £2 million in dividends from our property fund investments in the last 4 years.

This information is in the public domain. It is presented to the Audit and Governance Committee. The last meeting of this Committee was on 25^th January and details are to be found in the Treasury Management and Capital Strategy.”

Supplemental question asked by Mr. Abbott pursuant to paragraph 11.8 of the Rules of Procedure as set out in the Constitution:-

“I thank Councillor Noble for his answer.

You seem to have misunderstood part of my question. I asked for the investment income for the current financial year which I believe to be 2020/2021 but you have supplied the figure for 2021/22. Please could you let me have this figure as I am sure you will have it at hand considering how easily you answered my supplementary question at cabinet last week .

Now on to my supplementary question. I have concerns about the budget you are laying before the Council this evening you state that for the year 2021/22 you will expect to receive £897,000 but on page 16 of the report does state a return of £977,000 so your budgeted income for next year is already £90,000 short so how can you be confident that next year you can deliver a balanced budget.”

Response by Councilor Noble

“I thank Mr. Abbott for his question.  I answered the point in the prequel to the original question, there was a typographical error and the correct date is 2020/21.

I take exception to being accused of lying to Council or to anyone.  Looking at appendix 1 financial figures, the projected income for property funds in 2020/21, 2021/22 and 2022/23 is the same figure.

Now Mr. Abbott alleges a £90k shortfall, the answer is simple, we have actually exceeded expectations on returns on property funds.  The estimate was an under estimate, and performance was better than expected.  I have been assured by the Section 151 Officer, who has been in consultation with the Property Fund Managers, that the same will happen the following year.  Mr. Abbott should be pleased we are exceeding expectations and doing better than first thought.”

Question asked by Mr Paul Blackburn pursuant to paragraph 11 of the Rules of Procedure as set out in the Constitution.

“Are there any legal implications if council officers give wrong information so Councillors can vote at any meetings.”

Response by Councillor Paul Skinner

“Thank you for your question Mr Blackburn.

Our officers always ensure that councillors have all the relevant information before them to enable decisions to be made that are lawful.”

Supplemental question asked by Mr. Blackburn pursuant to paragraph 11.8 of the Rules of Procedure as set out in the Constitution:-

“I accept your response but totally do not agree with it. So would you begin a full open legal investigation to the whereabouts of all the monies this council has spent and lost in the setting up of the Bargate Green cooperative market which never got off the ground, yet the councillors voted on its implementation, and would give a verbal and written response?”

Response by Councillor Skinner

“This happened before my time as a Councillor.  I will provide a written response.”