Contact: Tim Turner, ext 6864 email: [email protected]

Maria Seaton-Fry, ext 6481 email: maria.seaton-fry:hants.gov.uk

1. Summary

1.1 The following decision is sought:

That authority be given to extend the debt repayment period for up to four years of a recently formed, not-for-profit company involved in the provision of environmental services, with write-off procedures being applied only if the debt becomes unrecoverable.

2. Reason

2.1 This report does not directly support the priorities of the Corporate Strategy, but relates to the proper accounting and regulation of Hampshire County Council's financial records.

3. Other Options Considered and Rejected

3.1 A referral to write off the debts immediately was considered but rejected because the company is still trading.

3.2 It is considered that the commitment of further resources seeking recovery of the debts at this stage is not cost effective for the Council given the uncertainty over when the company will be able to repay the debts. An extension of the repayment period will give the company more time to generate income.

4. Conflicts of Interest Declared by the Decision Maker or Other Executive Member Consulted - None.

5. Dispensation granted by the Standards Committee - None.

6. Reason(s) for the Matter being dealt with if Urgent - None.

Approved by: Date:

Councillor M J Kendal

Executive Member for Environment

1149Decn/TT