Members will be aware that one of the key objectives within the Council’s Corporate Strategic Plan 2020-2025 is to sustain £1 million revenue via commercial activities to reduce the council’s revenue budget gap.

To assist with this objective and meet the targets set out in the Council’s Medium Term Financial Strategy and build on the initiatives already developed it is considered appropriate to introduce a member’s cross working party, Financial Initiatives Member Working Group (FIWG) to review and develop financial initiatives for presentation to and consideration by this committee.

The members had to talk with their group to decide which members from the opposition would be part of the working group.  Cllr Poppy confirmed that the members from the Conservative Party would be Cllrs Hossack and White. 

After a full discussion, Cllr Poppy MOVED and Cllr Pearson SECONDED the recommendations in the report. A vote was taken and it was RESOLVED.

Members are asked to:

R1. Agree to set up a formal cross party Member’s Financial Initiatives Working Group.

R2. Agree the Members to be representatives on the working group.

R3. Agree the working group’s Terms of Reference as attached at Appendix A.

Reasons for Recommendation

To ensure that the council considers all financial opportunities in an appropriate and structured manner.