To notify the Chairman of any items that appear in the agenda in which you may have an interest.

Members had no interests to declare.

To confirm as a correct record the Minutes of the meeting held on 20^th November 2008.

The Minutes of the meeting held on 20^th November 2008 were confirmed as a correct record and signed by the Chairman.

Report of Director of Resources.

Consideration was given to a report regarding the above (For copy see file of Minutes).

It was explained that in the light of the recent turbulence in the financial and banking sector it had been considered appropriate to review the Council’s financial position and treasury management practices to identify any impact on the Council and its approach to treasury activities to minimise its risk exposure.

The report gave details of the economic conditions and the ‘credit crunch’ and the Council’s investment strategy and practices.  It also reviewed the Council’s investment and borrowing activities, summarised the net treasury position and gave details of the monitoring of the Council’s prudential indicators.

RESOLVED :            1.      That the treasury management activities undertaken for the period including compliance with the approved treasury management strategy 2008-09 be noted.

2.            That the performance of the Council’s investments for the reported period be noted.

3.      That the prudent approach taken by the Council in managing its investment portfolio and choosing to investment in UK/Irish financial institutions only be endorsed.

4.      That the take up of additional borrowing of £4.999m during the period to take the Council’s borrowing to the level of its ‘attributable housing debt’ be noted.

Consideration was given to the Minutes of the meeting held on 18^th November 2008 (for copy see file of Minutes).

RESOLVED :            That the Minutes be received.

Consideration was given to the Minutes of the following:

Area 2 Forum 4^th November 2008

Area 1 Forum 10^th November 2008

Area 3 Forum 12^th November 2008

Area 4 Forum 18^th November 2008

RESOLVED :            That the Minutes be received.

RESOLVED:             That in accordance with Section 100(a)(4) of the Local Government Act 1972 the press and public be excluded from the meeting for the following item of business on the grounds that it may involve the likely disclosure of exempt information as defined in Paragraph 3 of Schedule 12a of the Act.

Report of Director of Resources.

Consideration was given to a report regarding a request for the lease of land for the development of a childrens play area at Redesdale Court, Trimdon Grange (For copy see file of Minutes).

RESOLVED :            That the recommendation detailed in the report be adopted.

Published on 4^thDecember, 2008.

These Minutes contain no key decisions and will be implemented immediately.