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ITEM EX7

EXECUTIVE – 8 JULY 2003

CAPITAL STRATEGY, ASSET MANAGEMENT PLAN AND PROPERTY PORTFOLIO 2002/03

Report by the Director for Resources

Introduction

  1. This report comprises:

The Capital Strategy and Asset Management Plan need further development and in particular need to be checked against assessment criteria. Further amendment is likely to be necessary before the documents are submitted to the Government office.

  1. Regulations under the Local Government Act 2000 reserve the approval of any "… plan or strategy for the control of the authority’s capital expenditure …" to the full Council. This description applies to Appendix A, which should accordingly be referred for comment to the Corporate Governance Scrutiny Committee (on 17 July) for comment before the Executive makes a formal recommendation to Council, in accordance with the Budget and Policy Framework Procedure Rules set out in the Constitution.

  2. The Review of Property Assets was referred to in the report ‘Maximising Our Resources’ considered by the Executive in April. It is a fundamental review and is likely to lead to major changes in the property used by the Council.

    3. RECOMMENDATIONS

  3. The Executive is RECOMMENDED to:-

          1. note the report on performance of the Council’s Property Portfolio;

          2. agree the Business Case and Project Definition for the Review of Property Assets;

          3. agree the Capital Strategy and the Corporate Asset Management Plan for submission to the Government Office, subject to (d) below and to further appropriate amendment being made to the draft versions in consultation with the Leader of the Council and Deputy Leader of the Council;

          4. refer the Capital Strategy to the Corporate Governance Scrutiny Committee for comment in time for consideration by the Executive on 22 July, with a view to making a recommendation on the strategy to the September 2003 Council.

JOHN JACKSON
Director for Resources

Background papers: Nil

Contact Officers: Greg Lowe, Property Client Section Tel: Oxford 815532 - Capital Strategy and Asset Management Plan; Mark Tailby, Property Client Section Tel: Oxford 816012 - Review of Property Assets

June 2003

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