Issue - meetings

This report asks Cabinet to approve the City of York Council Financial Inclusion Policy and associated Action Plan and the draw-down of Economic Infrastructure Funding of £300k over 3 financial years to deliver against the outcomes in the Financial Inclusion Action Plan.

RESOLVED:       That Cabinet approve:

i)             CYC’s proposed overarching approach to Financial Inclusion, in particular the draft Action Plan, for the next 12 months, as set out at Annex A of the report, including proposed arrangements for Economic Infrastructure Funding.

ii)            The draw-down of £300,000 identified from the Economic Infrastructure Fund to facilitate the above approach.

REASON:            CYC’s policy approach to financial inclusion is intended to increase the scope and build the capacity of CYC and other partners to deliver a more co-ordinated approach to financial inclusion across the City, bringing about the following outcomes:

·                   The creation of a Citywide financial safety net, with good information and advice available for all residents.

·                   The identification of a programme of proactive outreach campaigns in areas of specific need.

·                   The embedding of financial inclusion within all council strategies and all directorates / service plans.

Consideration was given to the second report, the City of York Council Financial Inclusion Policy and Action Plan, at Annex A which had also been prepared to realise the vision for a fair and inclusive city.

The Policy had been prepared as a new initiative to direct additional resource to support people becoming financially marginalised, adopting a more preventative approach to promoting financial inclusion.

Management of the Council’s approach to income collection through its Debt and Income Collection Policies was set out at Annex B which included the establishment of a cross directorate Financial Inclusion Network for delivery of the financial inclusion agenda. Information on current financial inclusion services across the Council were set out at Annex C.

It was noted that the success of the Policy and Action Plan was heavily dependent on the involvement and buy in of partner agencies. To ensure that the Council was at the forefront of financial inclusion in the city and in order to progress the identified actions a 3 year package of Economic Infrastructure Funding was proposed.  To deliver the outcomes, £300k would include the provision of a Project Manager and advice services details of which were set out at paragraph 15 of the report.

Following further discussion it was

RESOLVED:       That Cabinet approve:

i)             CYC’s proposed overarching approach to Financial Inclusion, in particular the draft Action Plan, for the next 12 months, as set out at Annex A of the report, including proposed arrangements for Economic Infrastructure Funding.

ii)            The draw-down of £300,000 identified from the Economic Infrastructure Fund to facilitate the above approach. ^1.

REASON:            CYC’s policy approach to financial inclusion is intended to increase the scope and build the capacity of CYC and other partners to deliver a more co-ordinated approach to financial inclusion across the City, bringing about the following outcomes:

·                   The creation of a Citywide financial safety net, with good information and advice available for all residents.

·                   The identification of a programme of proactive outreach campaigns in areas of specific need.

·                   The embedding of financial inclusion within all council strategies and all directorates / service plans.