Decision details

Cabinet considered the report and RESOLVED to:

1.    Agree to the disposal plan included in this report including the series of reviews aims at rationalising Council assets over time.

2.    Agree to that a new Asset Management Plan will be prepared for inclusion in the Council’s Budget Strategy in February 2023, along with a Disposals and Acquisitions Policy.

The Council needs to identify assets for disposal to support its budget position.

The Council will always need to reviews and dispose of assets as its financial or operational needs change. It is not possible in the current circumstances to do nothing and so that as an option has not been considered. The alternative of releasing assets very quickly to achieve the highest level of receipts early has not proved necessary. The phased approach to achieving the level of receipts required to balance the Council’s budget is considered the optimum route for the Council at this stage. The Asset Management Plan which will be published with the budget in February 2023 will identify a longer term approach to the Council’s asset planning.