RESOLVED

That the Cabinet:

a)         approves the Corporate Debt Policy (Appendix A of report FIN/610) for adoption and subsequent publication.

b)         delegates authority to the Head of Corporate Finance, in consultation with the Leader, to review and make amendments to the Corporate Debt Policy as further changes to legislation and statutory guidance are introduced.

(Generic Delegation 7 will be used to enact this recommendation).

Reasons for the Recommendations

The council has a duty to ensure that it collects income and recovers debt efficiently and effectively to ensure it fulfils its financial responsibilities to its citizens and maximises its capacity to provide local services.

The Council must meet legislative requirements in respect of income collection and has an obligation to collect on behalf of other organisations.