Agenda and decisions

Members are asked to declare any interests in the items under consideration and in doing so state:

(1) the type of interest concerned; and

(2) the nature of the interest concerned

If any member requires advice on declarations of interests, they are advised to contact the Head of Democratic Governance in advance of the meeting.

The Executive resolved as follows:

To defer consideration of this item until the next meeting of the Executive.

The Executive agreed the recommendation as outlined above namely:

That the account detailed in this report totalling £296,939.78 is authorised for write off.

The Executive agreed the recommendations as outlined above namely:

1. To Prudentially Borrow £7,740,000 over a term of 10 years to lend to Blackpool Transport Services Limited.

2. To offer Blackpool Transport Services Limited a loan facility of £7,740,000 to fund the purchase of 10 double buses in June 2016 (£2,211,000) and 25 vehicles in June 2017 (£5,527,500), each loan to be repaid over ten years with 120 monthly repayments.

3. To offer Blackpool Transport Services Limited a short term facility of up to £1,100,000 for 2 months in order to manage cash flow in respect of the VAT payable on the transaction.

The Executive agreed the recommendations as outlined above namely:

1. To approve the Provisional Revenue Outturn for 2015/2016 and in so doing to note that the figures are subject to external audit and final accounting adjustments (reference paragraph 2.1 of Appendix 5a, to the Executive report).

2. To approve the recommendations regarding the treatment of specific service under or overspends as outlined (reference paragraph 3.2 of Appendix 5a, to the Executive report ).

3. To approve the provisional capital outturn for 2015/2016 and methods of scheme funding as outlined (reference paragraphs 4.2 and 4.5 of Appendix 5a, to the Executive report).

4. To note the Prudential Indicator (reference paragraph 4.3 of Appendix 5a, to the Executive report).

5. To note the levels of the earmarked reserves including those for the Housing Revenue Account and maintained schools (reference paragraph 6.1, 6.3 and 6.4 of Appendix 5a, to the Executive report ).

The Executive agreed the recommendation as outlined above namely:

To note the report concerning Treasury Management activities for the financial year ended 31 March 2016.