Issue - meetings

2016/17 Financial Monitoring & Business Strategy Delivery Report - February 2017

Meeting: 25/04/2017 - Cabinet (Item 34)

34 2016/17 Financial Monitoring & Business Strategy Delivery Report - February 2017 PDF 290 KB

Cabinet Member: Finance

Forward Plan Ref: 2016/129

Contact: Katy Jurczyszyn, Strategic Finance Manager (Finance, Strategy & Monitoring) Tel: 07584 909518

Report by Director of Finance (CA6).

This report is the penultimate for the 2016/17 financial year reporting on revenue and capital spending against budget allocations, including virements between budget heads and capital programme approvals.

The Cabinet is RECOMMENDED to:

(a) note the report;

(b) approve the 2017/18 virements set out in Annex 2b;

(c) approve the debt write off in paragraph 43;

(d) note the impairment of the debt detailed in paragraph 44:

(e) note the Treasury Management lending list at Annex 4;

(f) approve the Fees and Charges set out in Annex 6;

(g) approve the changes to the Capital Programme set out in Annex 7b and 7c;

(h) approve the contractual commitment for construction of the Didcot Great Western Park Primary School (Chalkhill), with a total budget of £7.150m as set out in paragraph 65; and

(i) approve the £3.3m National Productivity Investment Fund Programme set out in parargraph 67 for inclusion in the capital programme.

Additional documents:

Corporate Annexes cabinet 25 February 2017, item 34 PDF 1 MB

Decision:

Recommendations agreed as set out in the addenda and shown in bold below:

The Cabinet is RECOMMENDED to:

(a) note the report;

(b) approve the 2017/18 virements set out in Annex 2b;

(d) note the impairment of the debt detailed in paragraph 42:

(e) note the Treasury Management lending list at Annex 3;

(f) approve the Fees and Charges set out in Annex 6;

(g) approve the changes to the Capital Programme set out in Annex 7b and 7c;

(h) approve the contractual commitment for construction of the Didcot Great Western Park Primary School (Chalkhill), with a total budget of £7.150m as set out in paragraph 65; and

(i) approve the £3.3m National Productivity Investment Fund Programme set out in paragraph 67 for inclusion in the capital programme.

Minutes:

Cabinet considered the penultimate report in a series for the 2016/17 financial year reporting on revenue and capital spending against budget allocations, including virements between budget heads and capital programme approvals.

Cabinet also had before them an addenda correcting references to paragraph number in the recommendations set out in the report.

Councillor Nick Hards, Shadow Cabinet Member for Finance, analysed the position as set out in the report commenting that it was much as he would have expected at this point. The final outturn was getting better as the result of a great deal of effort. However he had some concern that some actions were a blunt tool, for instance the freeze on recruitment. He highlighted the underspend in E&E and queried whether in part it was because the staff were not there to carry out the work and whether this was counter productive for residents. Councillor Hards highlighted a number of areas of overspend and noted the use of reserves that could not continue indefinitely.

Cabinet Members responded to the detailed points made.

Councillor Stratford, Cabinet Member for Finance highlighted the contents of the report and moved the recommendations noting the corrections set out in the addenda.

RESOLVED: to: