Issue - meetings

Cabinet Member: Finance & Property

Forward Plan Ref: 2011/092

Contact: Kathy Wilcox, Principal Financial Manager Tel: (01865) 323981

Report by Assistant Chief Executive & Chief Finance Officer (CA6).

This report covers the period to the end of July 2011 for both revenue and capital budgets and focuses on significant issues and risks around the delivery of the Directorate Business Strategies which were agreed as part of the Service and Resource Planning Process for 2011/12 – 2015/16.  These are set out in the context of the wider forecast position for each Directorate. 

Parts 1 and 2 include projections for revenue, reserves and balances as at the end of July 2011.  Capital monitoring is included at Part 3.  The report includes an update on the use of the £0.968m Performance Reward Grant relating to the Adult Skills Target and includes a request to approve supplementary estimates to allocate the £0.678m revenue element either for use by the Council or to be passed to partners.

The Cabinet is RECOMMENDED to

a)     note the report;

b)    approve the virement requests set out in Annex 2a and Supplementary Estimate requests to allocate the Performance Reward Grant set out in Annex 2e and paragraphs 40 to 43;

c)     approve the changes to the Capital Programme set out in Annex 9c.

Cabinet considered a report that covered the period to the end of July 2011 for both revenue and capital budgets and which focussed on significant issues and risks around the delivery of the Directorate Business Strategies which were agreed as part of the Service and Resource Planning Process for 2011/12 – 2015/16. 

The Cabinet Member for Finance and Property introduced the report highlighting a number of elements in the report including the slippage in the business strategy and the overspend in pooled budgets. He also referred to the savings achieved through the closure of Cricket Road and changes to the capital programme to maximise spend.

During discussion the Leader commented that there was no longer reference to the impact of school reorganisation as this had been written off and the cost borne successfully.

RESOLVED:             to:

a)                 note the report;

b)                 approve the virement requests set out in Annex 2a and Supplementary Estimate requests to allocate the Performance Reward Grant set out in Annex 2e and paragraphs 40 to 43;

approve the changes to the Capital Programme set out in Annex 9c.