Issue - meetings

Forward Plan Ref: 2020/085

Contact: Hannah Battye, Growth Manager – Central Tel: 07808 573932/Joanne Fellows, Infrastructure Locality Lead – Central Tel: 07990 368897

Report by Assistant Director – Growth & Place (CMDE17).

The report outlines the outcome of an update to the council's Security Bond Policy following an internal audit focusing on bonds. The bond audit, published in April 2018, identified where the bond process could be improved and where further guidance was needed to improve the robustness of the process. The updated Policy outlines clearly when a security bond is needed but also, by assessing the other methods of recovery and enforcement, has reduced the circumstances for when a bond is required whilst still protecting the County Council from financial risk.

The Cabinet Member is RECOMMENDED to:

(a)      approve the revised Security Bond Policy as summarised in paragraphs 16-21 and attached as Annex 1 to the report CMDE18;

(b)      approve the use of the policy in relation to security bonds secured through section 106 agreements for County Council infrastructure and services.

Approved

Approved

The Cabinet Member for Environment considered a report (CMDE17) outlining the outcome of an update to the council's Security Bond Policy following an internal audit focusing on bonds. The bond audit, published in April 2018, identified where the bond process could be improved and where further guidance was needed to improve the robustness of the process. The updated Policy outlined clearly when a security bond was needed but also, by assessing the other methods of recovery and enforcement, had reduced the circumstances for when a bond was required whilst still protecting the County Council from financial risk.

Noting that the policy would speed up and clarify the process the Cabinet Member having regard to the information set out in the report confirmed her decision as follows:

to:

(a)      approve the revised Security Bond Policy as summarised in paragraphs 16-21 and attached as Annex 1 to the report CMDE18;

(b)      approve the use of the policy in relation to security bonds secured through section 106 agreements for County Council infrastructure and services.

Signed……………………………………..

Cabinet Member for Environment

Date of signing……………………………..

Approved