(A) TREASURY MANAGEMENT MID- Director of Finance YEAR REPORT

12. INFORMATION ITEMS FOR CONSIDERATION BY THE CABINET

(a) TREASURY MANAGEMENT MID- Director of Finance YEAR REPORT

Purpose

To receive the treasury management mid-year report.

Introduction

The Council’s Treasury Management Strategy for 2015/16 was approved in February 2015. This mid-year investment performance report covers the period 1 April 2015 to 30 September 2015. The report covers treasury activity and the associated monitoring and control of risks.

For members’ information, Appendices ‘A’ and ‘B’ relate to this item.

Treasury Management Strategy

The Department for Communities and Local Government Guidance on Local Government Investments stipulates that priority should be given to the security and liquidity of funds. The Council’s approach is to maximise the return on investments within these parameters.

Focus on the security of deposits has been the overriding investment objective in the current financial year. The Council has reduced its exposure to both individual building societies and the sector as a whole. The diversity of the portfolio has been preserved through deposits with rated banks and the development of the property portfolio. This strategic shift was a risk managed response to regulatory changes which, in the event of counterparty default, would subject institutional deposits to ‘bail-in’ contributions.

Deposits placed in the year to date have adhered to the Council’s counterparty policy as set out in its Treasury Management Strategy for 2015/16. Counterparty credit quality is assessed and monitored with reference to the credit ratings across rating agencies Fitch, S&P and Moody’s; credit default swaps; financial statements; and information on potential government support. In accordance with the approved Strategy, property investments are made after a comprehensive business case is established which includes consideration of acquisition / disposal costs, returns at an appropriate level, the nature of the property, management costs and the default risk.

The Economic Outlook

At their October meeting, the Monetary Policy Committee of the Bank of England voted by an 8 – 1 majority to maintain the Bank Rate at 0.5% with the asset purchasing programme being held at £375 billion. The Committee minutes confirm that they expect inflation to remain below 1% until Spring 2016. The decline in oil prices and the strength of Sterling in depressing import price growth were seen as factors behind low inflation. Given these considerations and as wage growth consolidates, the Council’s treasury advisors anticipate that the Bank will move to increase the central rate of borrowing around June 2016. Their full forecast for the Bank Rate is given in the table below:

Forecast of UK Interest Rates:

Source: Arlingclose Ltd Bank Rate %

Current 0.50

June 2016 0.75

December 2016 1.00

June 2017 1.25

December 2017 1.50

June 2018 1.75

December 2018 1.75

Based on this forecast and cash flow projections the following investment returns are anticipated:

Year Projected Rate of Return Projected Investment Interest

2015/16 0.68% £350,000

2016/17 0.98% £425,000

2017/18 1.44% £550,000

The Council is currently debt free and its capital expenditure plans do not currently imply any requirement to borrow over the forecast period. Investments are expected to fall to £45 million by 2017/18 after factoring in the commitments in the capital programme.

Treasury Management Performance 2015/16

The average investment portfolio from 1 April 2015 to 30 September 2015 was £52.5 million. The tables below indicate the movement in the investment balance and the rate of return for the financial year to date:

31 March 2015 30 September 2015 Investment balance as at £48,250,000 £46,800,000

1 April 2015 to 30 September 2015

Average return on cash investments 0.60%

Average London inter-bank 7-day rate 0.48%

Average London inter-bank 1-month offer rate 0.51%

The average rate of return on the Council’s cash investments in the financial year to the end of September 2015 was 0.60%, generating investment income of £157,400. The average return on investments in this period exceeded the Local Authority seven day rate by 0.12% and the long-term benchmark, the London one month inter-bank offer rate, by 0.09%.

The table below gives an indication of the movement in market rates over the period relative to the central Bank Rate and the average rate of return achieved by the Council of 0.60%.

1.20 1.00

0.80 7 days 0.60 1 month 0.40 1 year 0.20 Bank Rate 0.00 Average rate

Direct Property Investments

The table below reflects the Council’s updated property investment portfolio as at the 31 October 2015. The anticipated annual income from each acquisition is also provided.

Date of Property Purchase Annual Yield Acquisition Price Income

Barclays Bank, 12-14 Market 03/10/2014 £1,230,000 £89,500 7.25% Street, Hertford

Barclays Bank, 89-93 High 12/12/2014 £660,000 £40,000 6.10% Street, Rainham, Kent

DVLA Centre, Landegai Road, 17/12/2014 £2,375,000 £166,000 6.90% Bangor, Wales

29-31 Oxford Street, High 07/09/2015 £1,675,000 £110,000 6.55% Wycombe, Bucks

370-372 Dereham Road, 22/10/2015 £1,073,000 £65,000 6.10% Norwich, Norfolk

Total £7,013,000 £470,500

The annual average rate of return on the property investments is therefore 6.7% which reflects the position before deduction of costs.

Badger BC Investments

Property investments made under the auspices of Badger BC Investments fall outside the scope of the CIPFA Code but are included here for completeness. The Company accounts to the Council for interest on loan drawdowns at a commercial rate of 4%. As at the 4th November 2015 loan drawdowns of just under £5.2M have been made yielding £82,346 since the loan account was created in June 2014.

Treasury Management Indicators

The Council has complied with its Prudential Indicators for 2015/16, which were set in February 2015 as part of the Treasury Management Strategy Statement. Members are asked to note the following indicators as at 30 September 2015:

Interest rate exposures

This indicator is set to control the Council’s exposure to interest rate risk. Fixed rate investments are those where the rate of interest is fixed for the whole financial year. Instruments that mature during the financial year are classed as variable rate. The exposures to fixed and variable rate interest rates were:

2015/16 to 2016/17 2017/18 date

Upper limit on fixed rate exposures (value of portfolio which can be invested for 50% 50% 50% greater than 1 year)

Actual 5%

Upper limit on variable rate exposures (value of portfolio which can be invested 100% 100% 100% for less than 1 year)

Actual 95%

Principal sums invested for periods longer than 364 days

The purpose of this indicator is to control the Council’s exposure to the risk of incurring losses by seeking early repayment of its investments. The limits on the total principal sum invested to final maturities beyond the period end will be:

2015/16 2016/17 2017/18

Limit on principal invested beyond year £18M £18M £18M end

Actual £2M £2M £2M

Investment Instruments Monitor

The Council’s treasury management policy requires the section to monitor and report investments held against the instrument limits set as part of the prudential indicators. The limits have been complied with in the financial year to date.

Approved Lending List

All three of the credit rating agencies used by the Council have now reviewed their ratings in light of the loss of government support for most financial institutions. Despite the withdrawal of support many institutions have seen credit rating upgrades based on improvements in their financial strength and low loss exposure. The material changes to the authorised counterparties are summarised below:

● The money market fund that the Council holds with Ignis Liquidity Funds plc was acquired by Standard Life Investments Liquidity Fund plc in May. The Fund continues to be run in accordance with the same investment principles but has been renamed.

● The Danish Danske Bank and the Stafford Railway Building Societies now qualify for inclusion on the authorised counterparty list.

A schedule of authorised counterparties and deposits made as at 30 September 2015 is provided at Appendix ‘A’. Also included at Appendix ‘B’ is a full schedule of investments including the rates of return as at the 30 September 2015.

Contact Officer: List of Background Papers: Mr C Wybrew (Ext 5516) Investment/Loan records Reports to Cabinet February 2015 and October 2015. British Bankers’ Association London Inter-bank historic rates. Bank of England Inflation Report and Minutes of Monetary Policy Committee.

APPENDIX ‘A’

Schedule of deposits and limits.

The unsecured counterparties and limits shown are those applying as at 30th September 2015.

Max Deposit Short- Long- Group / Country Limit Max Time Limit Limit £M Term £M Term £M

RATED BUILDING SOCIETIES

COVENTRY 6 Months 3 2 N/a N/a

LEEDS 100 Days 3 N/a N/a

NATIONWIDE 6 Months 3 3 N/a N/a

UNRATED BUILDING SOCIETIES

CUMBERLAND 100 Days 1 1 N/a N/a

DARLINGTON 100 Days 1 N/a N/a

FURNESS 6 Months 1 N/a N/a

HARPENDEN 100 Days 1 N/a N/a

HINCKLEY & RUGBY 6 Months 1 N/a N/a

LEEK UNITED 6 Months 1 N/a N/a

LOUGHBOROUGH 100 Days 1 N/a N/a

MANSFIELD 6 Months 1 N/a N/a

MARKET HARBOROUGH 6 Months 1 N/a N/a

MARSDEN 6 Months 1 N/a N/a

MELTON MOWBRAY 6 Months 1 N/a N/a

NATIONAL COUNTIES 6 Months 1 1 N/a N/a

NEWBURY 6 Months 1 N/a N/a

SCOTTISH 100 Days 1 N/a N/a

STAFFORD RAILWAY 6 Months 1 N/a N/a

TIPTON & COSELEY 6 Months 1 1 N/a N/a

VERNON 100 Days 1 N/a N/a

Max Deposit Short- Long- Group / Country Limit Max Time Limit Limit £M Term £M Term £M

UK BANKS

BARCLAYS BANK PLC 100 Days 3 3 N/a N/a

CLOSE BROTHERS 6 Months 3 N/a N/a

GOLDMAN SACHS 100 Days 3 2 N/a N/a INTERNATIONAL

HSBC BANK PLC 13 Months 3 N/a N/a

LLOYDS BANKING GROUP

-BANK OF SCOTLAND PLC 13 Months 4 3 N/a N/a

-LLOYDS BANK PLC

RBS GROUP

-NATIONAL WESTMINSTER 35 Days 1 N/a N/a BANK

-ROYAL BANK OF SCOTLAND

SANTANDER UK PLC 6 Months 3 3 N/a N/a

STANDARD CHARTERED 6 Months 3 N/a N/a BANK

EUROPEAN BANKS

DANSKE BANK A/S 100 Days 3 N/a 6

POHJOLA BANK PLC 6 Months 3 N/a 6

DEUTSCHE BANK 35 Days 1 N/a 6 LANDESBANK HESSEN- 6 Months 3 THURINGEN N/a

RABOBANK 13 Months 3 N/a

BANK NEDERLANDSE 13 Months 6 GEMEENTEN 3 N/a

ING BANK NV 100 Days 3 N/a

Max Deposit Short- Long- Group / Country Limit Max Time Limit Limit £M Term £M Term £M

NORDEA GROUP

-NORDEA BANK AB 13 Months 3 N/a

-NORDEA BANK FINLAND PLC 6 SKANDINAVISKA ENSKILDA 6 Months 3 2 BANKEN (SEB)

SVENSKA HANDELSBANKEN 13 Months 3 N/a

CREDIT SUISSE 100 Days 3 N/a 6

OVERSEAS BANKS

AUSTRALIA & NEW ZEALAND 6 Months 3 N/a BANKING GROUP

COMMONWEALTH BANK OF 6 Months 3 3 N/a AUSTRALIA 6 NATIONAL AUSTRALIA BANK 6 Months 3 N/a

WESTPAC BANKING 6 Months 3 N/a CORPORATION

BANK OF MONTREAL 13 Months 3 N/a

BANK OF NOVA SCOTIA 13 Months 3 N/a

CANADIAN IMPERIAL BANK 13 Months 3 N/a 6 OF COMMERCE

ROYAL BANK OF CANADA 13 Months 3 N/a

TORONTO DOMINION BANK 13 Months 3 N/a

DEVELOPMENT BANK OF 13 Months 3 3 N/a SINGAPORE

OVERSEA-CHINESE BANKING 6 13 Months 3 N/a CORPORATION

UNITED OVERSEAS BANK 13 Months 3 3 N/a

Max Deposit Short- Long- Group / Country Limit Max Time Limit Limit £M Term £M Term £M

JP MORGAN CHASE 13 Months 3 N/a 6

LOCAL AUTHORITIES

KINGSTON-UPON-HULL CITY 25 Years 3 2 N/a COUNCIL

NORTH LANARKSHIRE 25 Years 3 1 N/a COUNCIL

PETERBOROUGH CITY 25 Years 3 2 N/a COUNCIL

UK CENTRAL GOVERNMENT 50 Years Unlimited N/a BONDS

DMO DEBT MANAGEMENT 50 Years Unlimited N/a DEPOSIT

SUPRANATIONAL COUNTERPARTIES

NORDIC INVESTMENT BANK 50 Years 3 N/a

COUNCIL OF EUROPE 25 Years 3 N/a DEVELOPMENT

EUROPEAN BANK FOR 50 Years 3 N/a RECONSTRUCTION

EUROPEAN INVESTMENT 50 Years 3 N/a BANK

INTER-AMERICAN 50 Years 3 N/a DEVELOPMENT BANK

INTERNATIONAL BANK FOR 50 Years 3 N/a RECONSTRUCTION

MONEY MARKET FUND

ACCOUNTS

BLACKROCK GLOBAL N/a 5 N/a INVESTORS 30 N/a 5 3.3 N/a DEUTSCHE BANK GLOBAL

Max Deposit Short- Long- Group / Country Limit Max Time Limit Limit £M Term £M Term £M

LIQUIDITY

STANDARD LIFE LIQUIDITY N/a 5 5 N/a FUND

INSIGHT LIQUIDITY PLUS N/a 5 3.5 N/a FUND

DIRECT PROPERTY N/a N/a 7.013 15 INVESTMENTS

APPENDIX ‘B’ Schedule of Investments as at 30th September 2015 TEMPORARY DEPOSITS Amount Rate % Name Type Maturity Broker

3,300,000 0.450 Deutsche Sterling Global Liquidity Fund Call DIRECT

5,000,000 0.442 Standard Life Liquidity Fund Call DIRECT

3,500,000 0.640 ILF Liquidity Plus Fund 4 Day DIRECT

11,800,000 Total Temporary

FIXED DEPOSITS

Amount £ Rate % Name Type Maturity Broker

2,000,000 1.15 Kingston Upon Hull City Council Fixed 1/10/15 ICAP

1,000,000 0.63 Skandinaviska Enskilda Banken Fixed 8/10/15 Sterling

1,000,000 0.57 Lloyds Bank plc Fixed 16/10/15 Direct

1,000,000 0.53 Barclays Bank plc Fixed 19/10/15 Direct

1,000,000 0.51 Nationwide Building Society Fixed 19/10/15 Sterling

1,000,000 0.58 Development Bank of Singapore Fixed 19/10/15 Sterling

1,000,000 0.52 United Overseas Bank Fixed 19/10/15 Tradition

Amount Rate % Name Type Maturity Broker

1,000,000 0.57 Lloyds Bank plc Fixed 28/10/15 Direct

1,000,000 0.52 Tipton & Coseley Building Society Fixed 6/11/15 Tulletts

2,000,000 0.52 Goldman Sachs International Bank Fixed 25/11/15 Tradition

1,000,000 0.51 Cumberland Building Society Fixed 4/12/15 Tradition

1,000,000 0.535 Barclays Bank plc Fixed 4/12/15 Direct

1,000,000 0.54 Commonwealth Bank of Australia Fixed 16/12/15 Tradition

1,000,000 0.49 Commonwealth Bank of Australia Fixed 16/12/15 Tradition

1,000,000 0.61 Development Bank of Singapore Fixed 21/12/15 Sterling

1,000,000 0.541 Barclays Bank plc Fixed 21/12/15 Direct

1,000,000 0.60 United Overseas Bank Fixed 15/1/16 Sterling

1,000,000 0.63 Skandinaviska Enskilda Banken Fixed 19/1/16 Sterling

1,000,000 0.58 Coventry Building Society Fixed 19/1/16 Tradition

1,000,000 0.54 Nationwide Building Society Fixed 19/1/16 Tradition

1,000,000 0.73 Santander UK plc Fixed 10/2/16 Sterling

1,000,000 0.60 Coventry Building Society Fixed 15/2/16 Tulletts

2,000,000 0.70 Santander UK plc Fixed 19/2/16 Sterling

1,000,000 0.66 Nationwide Building Society Fixed 26/2/16 Tulletts

1,000,000 0.62 Commonwealth Bank of Australia Fixed 14/3/16 ICAP

1,000,000 0.75 National Counties Building Society Fixed 18/3/16 ICAP

1,000,000 0.58 North Lanarkshire Council Fixed 21/3/16 Sterling

1,000,000 0.75 Development Bank of Singapore Fixed 15/9/16 Sterling

2,000,000 2.40 Peterborough City Council Fixed 28/6/19 ICAP

32,500,000 Total Fixed Term

(b) COMPLAINTS HANDLING QUARTER Head of Business Management TWO 2015/16

Purpose

To provide an update on the number of complaints received and responded to within ten days for the period July to September 2015.

Complaints received

The total number of complaints received each month since the beginning of the year and the percentage meeting the ten day target are as follows:

Field Force / % response Environmental All Other BLMSO Kingdom Total within Services Services Security 10 days Apr 15 204 16 8 5 233 99.6% May 15 218 36 6 10 270 99.3% Jun 15 323 29 4 11 367 99.7% Q1 Total 745 81 18 26 870 99.5% Jul 15 207 52 3 8 270 99.3% Aug 15 173 27 3 3 206 100.0% Sep 15 218 53 5 7 283 99.6% Q2 Total 598 132 11 18 759 99.6%

Discussion

The total number of recorded complaints in the second quarter of this year was significantly lower than for the previous quarter, although there was an increase in the number of BLMSO complaints. The reasons for this are:

1. Maintenance issues at John Warner Sports Centre and the Laura Trott Leisure Centre, that have now been resolved.

2. Proposed class changes at the Laura Trott Leisure Centre.

Contact Officer: List of Background Papers: Mr C Head (ext 5806) Complaint records.

Purpose

To report on the performance of Council services for July – September 2015 to the performance indicators (PIs) chosen by the Cabinet at its meeting on 15 July 2014. This report will also be considered by the Scrutiny Committee.

For Members’ information, Appendix ‘C’ relates to this item.

Performance below target in Quarter 2

Performance against the following performance indicators was below the level required to meet the target for 2015/16:

2 Number of households living in temporary accommodation

4 Speed of processing new benefit claims (days), on average since start of financial year

7b Total usage of community halls (year to date)

8a Number of missed domestic waste collections

8c Number of missed green waste collections

12b Street and environmental cleanliness – levels of detritus

15 Processing of planning applications for minor and other e.g. change of use

development

19 % of business rates collected

21 Percentage of staff leaving

22b Telephone response performance at Bishops’ College: Benefits

22d Telephone response performance at the Laura Trott Leisure Centre reception

23 Percentage of complaints receiving a response within 10 working days

Details of performance and a commentary are provided in Appendix ‘C’.

 Represents performance that is on track to achieve the target for 2015/16.

 Represents performance that is not on track to achieve the target for 2015/16.

Represents an improvement in performance since the previous quarter, or in the case of PIs 6, 7, 18 and 19 which are affected by seasonal factors, in comparison with the same quarter in the previous financial year, as indicated in the figures.

Represents a deterioration in performance since the previous quarter, or compared with the same quarter in the previous year for PIs 6, 7, 18 and 19, as indicated in the figures.

Represents performance remaining static since the last quarter, or for PIs 6, 7, 18 and 19, = in comparison with the same quarter in the previous year, as indicated in the figures.

Contact Officers: List of Background Papers: Ms J Ingham (Ext 5572) Performance Indicator Records 2015/16. Miss E Appleton (Ext 5861)

APPENDIX ‘C’

PI Target Q1 Q2 Improved Description Previous Years On target? Commentary no. 2015/16 2015/16 2015/16 ? HEALTH AND WELLBEING FOR ALL Number of new 2012/13: 12 Annually reported indicator, not reported this quarter. 1 affordable homes 2013/14: 0 60 completed 2014/15: 64 Number of Steady demand outstripping supply 2012/13: 300 Below 180 households living in of permanent accommodation 2 2013/14: 183 every day 177 207 temporary of year  accommodation 2014/15: 163

% of statutory 2012/13: 2% homelessness cases 3 2013/14: 40% 10% 26% 28% where homelessness  was prevented 2014/15: 63%

Volumes of new claims being Speed of processing submitted remain consistent; new benefit claims 2012/13: 21 however, the complexity of the 4 (days), on average 2013/14: 22.5 19 days 29.6 days 37.8 claims and delays in customers

since start of financial 2014/15: 24.8  providing supporting information is year. impacting on performance.

Processing times are well within Average time for target of nine days. processing change of 2012/13: 7.6 circumstances in 5 2013/14: 13.5 9 days 4.1 days 6.5 benefits claims (days)  since start of financial 2014/15: 15 year.

PI Target Q1 Q2 Improved Description Previous Years On target? Commentary no. 2015/16 2015/16 2015/16 ? Attendances for the quarter are 4% Number of young below target but are 18% up for the 6 people attending 2012/13: 21978 year-to-date. Compared to the Community 2013/14: 20898 18,850 6,687 4,293 same quarter in 2014/15, they are 17% down. Some of this relates to Development youth 2014/15: 23406  activities. challenges in receiving attendance data from third party contractors. Total usage of: (Year to date) a) Indoor sports PI has changed definition, so facilities figures from last year not 1,007,922 261,528 546,831 N/A comparable. (cumulative)  10% above target b) Community halls Total halls usage is 6% below target and 8% below last year’s level. Attendances at theatre shows vary and are dependent upon a number of factors including, popularity/availability of individual 7 2012/13: 210,535 acts/artists together with the 2013/14: 222,165 223,000 55,448 97,188 marketing/promotion of each event. (cumulative) 2014/15: 224,751  Attendances at private events also varies i.e. weddings, parties or presentation events and will have a positive/negative effect on attendances which is difficult to predict. Usage is higher than targeted for Wormley CC and FEH. c) Cedars Park 2012/13: 174,772 2013/14: 222,165 231,000 77,594 154,441 (cumulative) 2014/15: 257,214 

PI Target Q1 Q2 Improved Description Previous Years On target? Commentary no. 2015/16 2015/16 2015/16 ? d) Outdoor sports PI has changed definition, so facilities figures from last year not comparable.

221,800 49,106 88,393 N/A (cumulative) 

GREENER, PLEASANT, SAFE NEIGHBOURHOODS Number of missed waste and recycling collections a) Domestic waste Following the introduction of a new management team, the number of missed collections significantly decreased in quarter two compared 2012/13: 86 to quarter one.

2013/14: 114 279 123 69  Number of missed collections 2014/15: 280 equates to a missed collection rate of 0.01% of the total collections made (39,710 households x 13 weeks = 516,230 collections made 8 during the in period). b) Recycling Number of missed collections 2012/13: 85 equates to a missed collection rate of 0.02% of the total collections 2013/14: 148 236 59 40  made (33,927 households x 6.5 2014/15: 237 weeks = 220,526 collections made during the period). c) Green waste Number of missed collections

2012/13: 72 equates to a missed collection rate of 0.03% of the total collections 2013/14: 138 283 114 53  made (32,000 x 6.5 weeks = 2014/15: 284 208,000 collections made during the period).

PI Target Q1 Q2 Improved Description Previous Years On target? Commentary no. 2015/16 2015/16 2015/16 ? Residual waste per 2012/13: 610kg The recycling and composting rate 9 household (kg per 2013/14: 598kg 605kg 142kg 143kg of 43% in quarter two is an household)  increase of 2.1% when compared 2014/15: 606kg to the previous year. This can be Total percentage of partly attributed to the fact that a household waste sent proportion of street arisings now 2012/13: 34.3% for reuse, recycling being composted/recycled. Actual 10 2013/14: 35.1% 35.2% 40.9% 43% and composting, tonnages of household waste comprising: 2014/15: 35.1%  decreased by 2%, dry recycling increased by 5% and green waste decreased by 6%. 2012/13:16.9% 6,173 t NB. These figures are subject to 2013/14:16.3% 15.4% 17.5% a) Dry recyclables 15.3% change as they are audited by 5,934 t 1,464t 1,548t Waste Data Flow and Hertfordshire 2014/15: 16.9%  County Council. Once 5,601 t contamination levels have been 2012/13:17.4% assessed, the figures are likely to fall. Quarter one figures have been 11 6,362 t b) Green waste 2013/14:18.8% 25.5% 25.5% revised since the previous 19.9% monitoring report. (composted) 6,873 t 2,430t 2,262t  2014/15:19.9% 7,342 t c) Cost of waste Annually reported indicator, not collection per 2012/13: £49.18 reported this quarter. household 2013/14: £38.63 £35.65 2014/15: £35.66 Street and environmental cleanliness – levels of litter, detritus, graffiti, and weeds – percentage of unacceptable inspections Tranche 3 Tranche 1 (Dec-Mar) (Apr-Jul) 12 a) Litter 2012/13: 4% Second tranche inspections are 2013/14: 4% 7% 2% 2% = carried out between August and  November, so the data are not yet

PI Target Q1 Q2 Improved Description Previous Years On target? Commentary no. 2015/16 2015/16 2015/16 ? 2014/15: 4% available. b) Detritus 2012/13: 11% 2013/14: 5% 7% 15% 3% 2014/15: 10% 

c) Graffiti 2012/13: 1% 2013/14: 1% 1% 1% 1% =

2014/15: 1%  d) Weeds 7% 6% 6% =  % highway grounds maintenance inspections showing unsatisfactory results: Grass 2012/13: 8.6% 2013/14: 10% 5% 0% 0.5% 2014/15: 1%  13 Shrubs 2012/13: 1.8 2013/14: 12% 5% 1% 0% .

2014/15: 1%  Hedges 2012/13: 0.4 2013/14: 17% 7% 0% 0% =

2014/15: 7%  Performance is not monitored by Number of fixed 2012/13: 2,884 the number of penalty notices penalty notices issued 14 2013/14: 2,311 N/A 719 394 issued. for envirocrime Numbers reduced this quarter due incidents 2014/15: 3,270 to resource issue. STRONG LOCAL ECONOMY 15 Processing of planning applications:

PI Target Q1 Q2 Improved Description Previous Years On target? Commentary no. 2015/16 2015/16 2015/16 ? Major (> 10 dwellings) 2012/13: 50% 2013/14: 81% 75% 75% 100% Above Target.

2014/15: 75%  Minor (< 10 dwellings) 2012/13: 73% Below Target. Increased 2013/14: 84% 85% 60% 58% application numbers and staff

2014/15: 87%  shortages. Other (e.g. change of 2012/13: 93% Below Target. Increased use) 2013/14: 96% 95% 77% 70% application numbers and staff

2014/15: 97%  shortages. VALUE FOR MONEY AND EFFICIENCY Return on investments (%) Industrial 2012/13: 8.73% Annually reported indicator, not 2013/14: 6.9% N/A reported this quarter. 2014/15: 7.5% Shops 2012/13: 10.06% Annually reported indicator, not 2013/14: 10.3% N/A 16 reported this quarter. 2014/15: 10.29% Financial Investment yields are expected to 2012/13: 0.85% improve to target over the remainder of the financial year 2013/14: 0.59% 0.63% 0.61% 0.60% N/A N/A given that the Council now has 2014/15: 0.66% more leeway to invest for longer periods.

2012/13: 3,391,655 Less than kwh 2014/15 Electricity 2013/14: 3,173,168 subject to Annually reported indicator, not 17 consumption at kwh weather reported this quarter. Council sites 2014/15: 2,953,438 kwh

PI Target Q1 Q2 Improved Description Previous Years On target? Commentary no. 2015/16 2015/16 2015/16 ? 2012/13: 5,735,918 Less than kwh 2014/15 Gas consumption at 2013/14: 5,139,909 subject to Annually reported indicator, not

Council sites kwh weather reported this quarter. 2014/15: 4,910,281 kwh

2012/13: 98.2% Council tax collection is 0.1% % of Council Tax 18 2013/14: 97.9% 98.1% 26.7% 51.6% above target and 0.2% higher than collected 2014/15: 98.0%  at the end of Q2 in 2014/15

Business rates collection is 1.8% lower than the target set due, in 2012/13: 98.3% part, to businesses spreading their % of business rates 19 2013/14: 98.8% 98.8% 28.0% 52.9% payments over 12 months rather collected 2014/15: 99.2%  than the traditional 10. The collection is 0.2% lower than at the end of Q2 in 2014/15. 2012/13: 5.3 days Number of working days lost to sickness 2013/14: 6.4 days 5.3 days 20 6 days absence per full-time 5.4 days (Apr-Jun) (Jul-Sept)  equivalent employee 2014/15: 6.8 days

2012/13: 15% 7.5% 5.7% Percentage of staff 21 2013/14: 21% 20% All leavers All leavers leaving 2014/15: 24.6% (Apr-Jun) (Jul-Sept) 

PI Target Q1 Q2 Improved Description Previous Years On target? Commentary no. 2015/16 2015/16 2015/16 ?

6.4% 5% Voluntary Voluntary leavers leavers 

Telephone response performance at Bishops’ College and external sites (averaging ring time in seconds) a) Customer Service Assistants 10 secs 4 secs 5 secs  b) Benefits  2012/13: N/A (Phone system 30 secs 55 secs 51 secs changed in mid- year) 2013/14: a) 7 c) Other frontline secs services: b) 13 secs 22 Golf Course, c) 2 secs Licensing, 2014/15: a) 6sec Environmental b) 46 secs Services, Housing c) 3 secs 10 secs 4 secs 3 secs Needs, Parking,  Planning, Development Mgt, Personnel, Civic Hall Box Office, Elections, XFOR, EH Admin. d) Laura Trott Leisure Over 11,000 calls were taken in Centre Reception 2013/14: 64 secs the quarter, which were 20 secs 59 secs 34 secs 2014/15: 47 secs  answered in 34 seconds on average. Staff rotas have been

PI Target Q1 Q2 Improved Description Previous Years On target? Commentary no. 2015/16 2015/16 2015/16 ? changed to allow more resource to be available to deal with calls at peak times. Percentage of 2012/13: 94% complaints receiving a 23 2013/14: N/A 100% 99.7% 99.6% response within 10  working days 2014/15: 98%

(d) THE SPOTLIGHT REBRAND Director of Finance UPDATE REPORT

Purpose

To update Members on the recent changes to the Spotlight.

For Members’ information, Appendix ‘D’ relates to the first item.

Introduction

In March 2015 Cabinet agreed to: a) Re-name Broxbourne Civic Hall as “the Spotlight” with a strapline: theatre, cinema, gallery and café bar to provide the opportunity to focus on individual areas of the business. b) Also to change the directional signage and venue signage on the High Road making use of existing power feeds to illuminate them and giving the venue more of a presence on the high street.

Background

All the directional signage on approach roads have been changed to brown signs with the name and tourism symbols for theatre, cinema and eatery. Poster boards and signage in the car park and on the High Road have also been changed and signage in the venue has been modernised. New design guidelines have been drawn up and brochures for events at the venue have been rationalised to include specific and relevant information.

The planned maintenance budget together with a small amount from the BLMSO, in year surplus was pooled to redecorate the venue in a new colour scheme to create a more modern look and feel. Donations were received from Tesco, Meyer Williams Chartered Accountants and B3Living which enabled a change to the sofas and chairs in the café bar. The majority of the works took place in the two weeks prior to a celebration event where 100 of the friends of the theatre, local interest groups, the press, councillors and Charles Walker MP were invited to see the changes, enjoy professional and local talent and cut a symbolic cake.

The cost of all the works including the new signage was £55k. A large amount of the changes were carried out by staff at the Spotlight. Bookings for the pantomime, cinema and live to screen commitments are all doing well but it is too early to estimate the full financial impact of the changes. However the venue feels vibrant and staff morale is high.

Progress and Future Initiatives

Spotlight on theatre

Pantomime sales at the end of period 6 are ahead of the past three years sales.

Named acts secured for 2016 include comedian Brian Conley, Andrew Lloyd Webbers ‘Tell Me On A Sunday’ featuring Jodie Prenger; winner of reality TV show ‘I’d Do Anything’; who went on to play Nancy in the West End production of Oliver. Snooker Legends 5 times world champion Ronnie O’Sullivan, who will play snooker at the venue with Stephen Hendry. Guest presenters at this unique event are John Virgo and Michaela Tabb. An informative evening with journalist, broadcaster and former Member of Parliament - Michael Portillo and Children’s show favourite Peppa Pig.

Spotlight on Cinema

Cinema screenings of Pan, Suffragette, The Intern, Everest and Spectre are scheduled for the winter months. Productions recorded live from the National Theatre on the Southbank, The West End, English National Opera from the Colosseum and the RSC from Stratford upon Avon will also be broadcast. These ‘Live to screen’ performances are proving very popular with the general public and GCSE and A Level students and teachers. Titles for 2016 include Hamlet and Romeo and Juliet, which tie in with the Council’s year of culture and will mark the 400th Anniversary of Shakespeare’s death.

Spotlight on Weddings

In 2014/15 the venue held ten weddings this will be matched in 2015/16. At present there are seven confirmed weddings for 2016/17 and one provisional wedding booking.

A Wedding Show is planned for January 2016 to promote the venue. A new initiative for 2016 is the introduction of a Prom Fair scheduled in February to give local businesses a unique opportunity to show their products to celebrating GCSE and A level students. At the same time the event will bring young people into the venue and expose them to the events and cinema that are on offer, thus bringing a new audience to the Spotlight.

Contact Officers: List of Background Papers: Mrs M Miller (1211) Report to the Cabinet dated 24 March 2015. Mr T Driver (1209) .

APPENDIX ‘D’

Images of the signage, the re-decoration, the opening event and recent wedding at the Spotlight.

Images of exterior notice boards

Images of entrance doors and interior branding

Publicity image of décor and furnishings

Images from the Spotlight launch event

Image from a recent wedding

(e) PETITIONS RECEIEVED BY THE COUNCIL Head of Support Services

To report petitions submitted to the Council since last reported to the Cabinet.

Petition title Summary Date of receipt Signatures

Petition against Petition against 23/10/2015 154 proposed on-street proposed on-street parking facilities parking facilities at Adamsfield, Cheshunt.

(f) DECISIONS MADE IN CONSULTATION WITH Head of Support Services CABINET MEMBERS

The table below lists all decisions taken by officers in concurrence with Cabinet Members, since last reported to the Cabinet.

Title Member(s) Concurring Date Signed

Zombie Run Finance 16/09/2015 Leisure and Culture Drawdown of funds for the Leader of the Council 22/10/2015 acquisition of commercial Finance investment property 18 New River Trading Estate, Finance 22/10/2015 Cheshunt LTLC – Replacement of shower Finance 22/10/2015 cubicles for the dry changing rooms – exception to contract standing orders 2016/17 Hertfordshire Business Leader of the Council 30/10/2015 Rates Pool Finance Drawdown of funds to Badger BC Leader of the Council 03/11/2015 Investments for acquisition 46 Finance Winnipeg Way, Turnford, Herts. Additional Market in Waltham Cross Planning and 10/11/2015 – Christmas Week Regeneration Housing Allocation Scheme – Minor Housing and Community 11/11/2015 revision in light of recent court case Development Drawdown of funds to Badger BC Leader of the Council 17/11/2015 Investments for acquisition 10 Gilpin Finance Crescent, Edmonton, N18

More details about the above concurrences can be found on the Council’s website at the following link: https://www.broxbourne.gov.uk/council/officer-decisions

Details of decisions taken by officers under delegated powers are also available to view from the above link to the website. This information is published as required under the Openness of Local Government Regulations 2014.

(g) VIREMENTS MADE IN Director of Finance ACCORDANCE WITH FINANCIAL REGULATIONS

To update members on the budget virements approved since last reported to Cabinet. All virements have been approved in accordance with the Council’s financial regulations.

Transfer Transfer Value Description from To £

Capital

Use of capital contingency for Corporate Corporate 9,099 replacement of boiler at Pound Close Services Services Pavilion.

Use of capital contingency for purchase of land at King's Road, Corporate Corporate Waltham Cross for use as resident 35,200 Services Services parking. Approved at Cabinet 16 July 2014.

(h) SCHEDULE OF CONTRACTS LET Head of Support Services

There are no contracts let with a value of over £25,000 to report to the Cabinet since its last meeting.

Contact Officers: List of Background Papers: Mr T Ellis (Extn 5646) Virement records Concurrence records Corporate tender log Petitions register.