Decision - COMMUNITY WEALTH BUILDING

Decision details

COMMUNITY WEALTH BUILDING

Decision Maker: Executive

Decision status: For Determination

Is Key decision?: No

Is subject to call in?: No

Decision:

The Leader commended the idea of the Community Balance Sheet, the set of metrics to be used to measure the impact of Community Wealth Building (CWB) and the concept of a Working Group to drive CWB forward.  There was a need to increase the level of local procurement, and she hoped that this would be reflected in the Council’s emerging Procurement Strategy, which itself should link into the work on CWB.

 

The Portfolio Holder for Resources was requested to raise at the next Local Government Pensions meeting the possibility of the Hertfordshire Pension Fund contributing towards CWB, seeing it as an avenue towards the generation of local investment.

 

It was RESOLVED:

 

1.         That an Inclusive Economy Charter be developed and launched by the end of June 2020, underpinned by an action plan, this Charter to include a space for communities and stakeholders to pledge their support.

 

2.         That the Council pilots a Community Balance Sheet in partnership with its Co-operative Neighbourhoods Programme, and that this Balance Sheet be published alongside its annual statement of accounts.

 

3.         That the Council agrees a set of metrics to measure the impact of Community Wealth Building (CWB) on day-to-day business, and that this process be supported by a cross-departmental working group.

 

4.         That the Council facilitates a CWB Group to review progress and to validate findings of impact work, and to support the Council to share best practice at a regional and national level.

 

Reason for Decision:  As contained in report.

Other Options considered:  As contained in report.

Publication date: 11/03/2020

Date of decision: 11/03/2020

Decided at meeting: 11/03/2020 - Executive

Accompanying Documents: