Agenda item

10.1

To present for consideration and approval, the Council’s Corporate Debt Policy.

10.2

RESOLVED UNANIMOUSLY: That Finance Committee:-

1.     approves the Council’s Corporate Debt Policy; and

2.     notes that relevant Council services will conduct a review of their operational policies and practice, to ensure they are in line with the Corporate Debt Policy following adoption.

10.3

Reasons for Decision

10.3.1

The adoption of the Corporate Debt Policy clarifies the Council’s position on its approach to debt management, protecting the most vulnerable and modernising its systems and processes accordingly, in line with good practice. Putting in place an underpinning Corporate Debt Policy will help us operate in a more coordinated way, building on existing good practice. This will help ensure our customers are treated in a fair and consistent manner, irrespective of the service they are dealing with.

10.4

Alternatives Considered and Rejected

10.4.1

The Council could continue as it does currently, dealing with the issues covered in the proposed policy at an individual service level. Every service is different and complete consistency of operational practice will not always be necessary or possible, reflecting those different requirements. However, a corporate policy provides a clearer benchmark for overall strategic objectives and emerging good practice. As explained in this report, the main downside of a service level approach is it makes it more difficult for the Council to state its overall position on such issues as an organisation.

10.1

The Head of Revenues and Benefits submitted a report to present the Council’s Corporate Debt Policy for the Committee’s consideration and approval.

10.2

RESOLVED UNANIMOUSLY: That Finance Committee:-

1.     approves the Council’s Corporate Debt Policy; and

2.     notes that relevant Council services will conduct a review of their operational policies and practice, to ensure they are in line with the Corporate Debt Policy following adoption.

10.3

Reasons for Decision

10.3.1

The adoption of the Corporate Debt Policy clarifies the Council’s position on its approach to debt management, protecting the most vulnerable and modernising its systems and processes accordingly, in line with good practice. Putting in place an underpinning Corporate Debt Policy will help us operate in a more coordinated way, building on existing good practice. This will help ensure our customers are treated in a fair and consistent manner, irrespective of the service they are dealing with.

10.4

Alternatives Considered and Rejected

10.4.1

The Council could continue as it does currently, dealing with the issues covered in the proposed policy at an individual service level. Every service is different and complete consistency of operational practice will not always be necessary or possible, reflecting those different requirements. However, a corporate policy provides a clearer benchmark for overall strategic objectives and emerging good practice. As explained in this report, the main downside of a service level approach is it makes it more difficult for the Council to state its overall position on such issues as an organisation.