Agenda item

A report presenting the Asset Management Plan for Corporate Properties and Assets to the Cabinet for recommendation to the Council for approval.

Cabinet:

1)    NOTED the financial implications in the plan have been incorporated into the budget proposals.

2)    RECOMMENDED Council approves the Asset Management Plan for Corporate Assets (Appendix 1).

3)    DELEGATED authority to the Director for Growth and Regeneration, in consultation with the Portfolio Holder for Corporate Finance, Property and Resources, to make relevant amendments to the plan.

4)    DELEGATED authority to the Director for Growth and Regeneration, in consultation with the Portfolio Holder for Corporate Finance, Property and Resources, to procure contractors for implementation of works as identified in the action plan.

The Portfolio Holder for Corporate Finance, Property and Resources introduced the report, the purpose of which was to present the Asset Management Plan for Corporate Properties and Assets for consideration and recommendation to Council for approval.

The Portfolio Holder for Corporate Finance, Property and Resources thanked the representatives of the cross-party working group for the Asset Management Plan for Corporate Assets.

The Portfolio Holder for Corporate Finance, Property and Resources advised that the allocation of resources would be prioritised to those high risk items with the highest need of maintenance.

The Portfolio Holder for Corporate Finance, Property and Resources advised that the digital asset management module would link the asset management to the finance system to allow for better income and maintenance monitoring.

The Director for Growth and Regeneration advised the Asset Management Plan is an all-encompassing strategy including regulatory compliance, health and safety work for all buildings, service delivery, financial stability, leverage of investment, economic growth and would support the climate change strategy in terms of energy efficiency.

The Leader and Portfolio Holder for Housing and Landlord Services thanked officers for the detailed report.

Cabinet:

1)    NOTED the financial implications in the plan have been incorporated into the budget proposals.

2)    RECOMMENDED Council approves the Asset Management Plan for Corporate Assets (Appendix 1).

3)    DELEGATED authority to the Director for Growth and Regeneration, in consultation with the Portfolio Holder for Corporate Finance, Property and Resources, to make relevant amendments to the plan.

4)    DELEGATED authority to the Director for Growth and Regeneration, in consultation with the Portfolio Holder for Corporate Finance, Property and Resources, to procure contractors for implementation of works as identified in the action plan.

Reasons for Recommendations:

Priority 3 of Council’s Corporate Strategy 2020-2024, identifies a key focus area to be – ‘Confirm plans, secure funding and develop our assets to generate income and provide housing and jobs’.

The corporate land, assets and buildings, are an important resource for the Council and if used wisely, can be a powerful tool to not only enable the council to deliver excellent customer services across all areas, but also support regeneration and economic growth by leveraging public and private sector investment.

One of the key recommendations from the Local Government Association (LGA) finance review (2021), is for the Council to take a more strategic long-term approach to Financial Planning and the delivery of transformation, using Council assets and a requirement to at times take a commercial view.

An internal audit was undertaken for the Corporate Property and Assets (CPA) service in December 2021, that identified the control framework and compliance levels to be satisfactory. One of the key actions from the audit assessment undertaken for the Corporate Property and Assets (CPA) in December 2021 was to prepare an Asset Management Plan.