The minutes of the last meeting held on 24 March 2020 were approved as a correct record and signed by the Chair.

Consideration has been given to the Treasury Annual Report for 2019/20.

RESOLVED -

That the Council be recommended to approve the Treasury Annual Report for 2019/20.

The above decision has been made to ensure that the Council fully complies with the requirements of Financial Regulations and good practice as recommended by the Chartered Institute of Public Finance and Accountancy (CIPFA) in its Code of Practice on Treasury Management.

Consideration has been given to the 2019/20 Capital Programme outturn position and to recommending the Council to approve the financing of the programme.

RESOLVED -

(i)

That the Capital Programme outturn position for 2019/20 be noted.

(ii)

That the Council be recommended to approve all variations to the 2019/20 Capital Programme as set out in appendix 2 to the report.

(iii)

That the Council be recommended to approve the financing of the 2019/20 Capital Programme.

(iv)

That it be confirmed to Council that the capital expenditure and capital financing requirement indicators have been revised in line with the revised budget and that none of the approved Prudential Indicators set for 2019/20 have been breached.

The above decisions have been made for the following reasons:

(A)

To ensure optimum use of the Council’s capital resources in 2019/20.

(B)

To monitor actual performance against approved Prudential Indicators.

(Councillor M McNestry declared a personal and non pecuniary interest in the above matter because he is Chair of Chopwell Community Association and took no part in the discussion or voting on this item).

Consideration has been given to the outturn position on the 2019/20 revenue budget prior to audit and to recommending the Council to approve appropriations to and from reserves consistent with previous decisions, accounting policies, the principles set out in the Medium Term Financial Strategy (MTFS) and requirements of the Accounting Code of Practice and also proposed changes to strategic

reserves following the outcome of a review of Council reserves.

RESOLVED -

(i)

That the Council’s 2019/20 revenue outturn position as an under spend of £4.130m, subject to audit be noted.

(ii)

That the Council be recommended to approve the appropriations to and from reserves as set out in paragraphs 11 to 16 of the report.

(iii)

That the Council be recommended to approve the proposed changes to strategic reserves following the outcome of a review of Council reserves as set out in paragraph 18 of the report.

The above decision has been made to contribute to sound financial management and the long-term financial sustainability of the Council.

Consideration has been given to:

a)    an update on the Council’s response to the COVID 19 crisis,

b)    the financial implications of the Council’s response; and

c)    to the potential direction of travel for how Gateshead will plan to come through this period of crisis and into a reformed and revitalised place, one that positively embraces some of the new ways of working and tackles the challenges and fragility that exists within the borough.

RESOLVED -

(i)

That the contents of the report be noted.

(ii)

That a further report be submitted to the next meeting of Cabinet.

(iii)

That further engagement commences with all councillors as the first step towards agreeing the Council’s recovery plan; then engaging with a host of stakeholders to inform our response.

(iv)

That thanks and appreciation to all staff, partners, and the community for their response to the crisis be placed on record.

The above decisions have been made for the following reasons:

(A)

To support and guide the borough’s recovery from COVID-19.

(B)

To help support and build a more resilient Gateshead.

(C)

To acknowledge the efforts of all those involved in the response to the crisis.

Consideration has been given to the delegated decisions taken by officers in

accordance with Cabinet minute C150 - 2019/20 and the placing and extension of

contracts in accordance with the Council’s Contract Procedure Rules.

RESOLVED -

That the delegated decisions taken by officers in accordance

with Cabinet minute C150 – 2019/20 and the contracts placed or extended in accordance with Contract Procedure Rule 2.1.2 as set out in appendix 1 to the report be noted.

The above decision has been made to ensure openness and transparency with the decisions made by officers.