Agenda and minutes

Apologies for absence were received from Councillor S Goodall and Councillor S Smith.

The minutes of the meeting held on 17 November 2022 were approved as a correct record

(Moved by Councillor J Harper and seconded by Councillor M Cook)

There were no declarations of interest.

There was no further update which was not otherwise covered on the agenda.

The Chair reported that the QPR Q2 Report, which had been considered by this Committee at the November meeting, was received by Cabinet at its 1 December 2022 meeting.

No new items referred.

(Report of the Assistant Director, Assets)

The Chair welcomed the Portfolio Holder for Finance, Risk and Customer Services, Councillor M Bailey, and the Assistant Director Assets, Paul Weston to the meeting for this item.

The purpose of this report was to present the updated Asset Management Strategy relating to Council owned operational, investment, heritage and housing built assets.  Included within the updated strategy were documents covering acquisitions, disposals and the framework for the development of Asset Management Plans.

The Assistant Director, Assets reported that the report and supporting documentation had been considered by the Asset Strategy Steering Group and it was anticipated that, subject to any amendments arising from this committee, this document would be presented to Cabinet in January 2023 for approval and implementation.

It was reported that the Asset Management Strategy was intended to be a five year document, which would be reviewed in light of the current market situation and the Council’s financial situation.  It was reported that the Strategy aligned with the Council’s corporate priorities and as the priorities changed this could be reflected in the strategy.  It was reported that in this strategy the housing stock was included, it included different types of investment properties, covered rent reviews and enforcing tenancy arrangements to ensure tenants fulfilled their repairing obligations.  Following the implementation of the strategy, there would be more operational plans developed and it was reported that the Asset Management Steering Group would lead on developing the asset management plans for properties or groups of properties in terms of the non-housing stock. 

The Committee sought and received clarifications in the following areas:

1.    What the take up was on the right to buy side, where it was reported that from the whole housing stock of over 4000 properties around 30-50 properties were subject to right to buy each year.

2.    Where a list of all the Council’s assets could be located, where the Assistant Director reported that the Asset Register was published on the Council’s website and a link would be provided to members.

3.    How the assets were depreciated, which did not appear to be covered in the draft strategy. The Assistant Director, Assets reported that on an annual basis the Council’s assets were re-evaluated as part of the process for finalising the accounts and as part of that process depreciation would be taken into account at this point and that would be part of the asset management plans. 

4.    How the maintenance of housing stock was documented in the draft strategy, where the Assistant Director reported that this formed part of the work in the HRA Business Plan, which was updated regularly with further expected changes to deliver to the housing regulator’s expected standards and therefore this over-arching strategy aimed to reference to the more detailed HRA Business Plan.

5.    Whether the current return on the assets of around 6% was expected to continue where it was reported that this was difficult to predict, although returns on industrial property was strong. Given the current climate this was not necessarily  ...  view the full minutes text for item 61.

The Chair reported that he had requested feedback by email from the members of the QPR Review working group.

The Vice-Chair reported that he planned to convene a further meeting of the Review of Leaseholder Charges Communications working group following receipt of further information from the Assistant Director, Assets.

Discussion item – Link to the Forward Plan is below:

Browse plans - Cabinet, 2022 :: Tamworth Borough Council

There were no new items identified.

To review and discuss the Work Plan and Action Log

The Committee reviewed and updated the Work plan as follows:

Corporate Scrutiny Work Plan

The Committee noted the Action Log and items completed.