Issue - meetings

To consider a report of the Executive Councillor (Corporate, Customer and Community Services)

The report outlines a proposed Fleet Replacement Strategy and seeks approval for the provision of a rolling annuity loan arrangement to Solutions SK (SSK) to facilitate and support implementation of the strategy. The move to a direct procurement of vehicles programme has mutual financial benefits for both the Council and Solutions SK.

The Executive is recommended to

·         support the Fleet Replacement Strategy; and

·         approves the provision of a rolling annuity loan facility to SSK

Officer contact: Christine Buxton, 0161 474 4124, christine.buxton@stockport.gov.uk

The Executive Councillor (Corporate, Customer and Community Services) submitted a report (copies of which had been circulated) inviting the Executive Meeting to consider a proposed Fleet Replacement Strategy and a proposal to provide a rolling annuity loan arrangement to Solutions SK (SSK) to facilitate and support implementation of the strategy.

RESOLVED – That Fleet Replacement Strategy and the provision of a rolling annuity loan facility to SSK be approved.

To consider a report of the Corporate Director, Corporate and Support Services.

The report outlines the proposed Fleet Replacement Strategy and to seek the views of and comments from the Committee on the provision of a rolling annuity loan arrangement between the Council and Solutions SK (SSK) to facilitate and support implementation of the strategy.

The Executive will be considering the proposal at its meeting on 16 July. The Scrutiny Committee’s comments will be reported to the Executive.

The Scrutiny Committee is asked to comment upon the proposed Fleet Replacement Strategy set out in the report, including the provision of a rolling annuity loan facility to SSK.

Officer contact, Christine Buxton, Head of Finance, Christine.buxton@stockport.gov.uk, telephone number: 0161 474 4124

The Corporate Director, Corporate and Support Services submitted a report (copies of which had been circulated) outlining the proposed Fleet Replacement Strategy and seeking the views of and comments of the Scrutiny Committee on the provision of a rolling annuity loan arrangement between the Council and Solutions SK (SSK) to facilitate and support implementation of the strategy.

It was reported that the Executive would consider the report at its meeting on 16 July 2013.

The following comments were made/ issues raised:-

·         It was clarified that SK Solutions did not have borrowing ceiling.

·         The proposal provided the most cost effective option for managing the fleet renewal.

RESOLVED – That the Executive be recommended to approve the proposal.