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ITEM CA6
CABINET
– 19 DECEMBER 2006
SERVICE
AND RESOURCE PLANNING 2007/08 – 2011/12
Report by
Chief Executive, Director for Resources and Head of Finance & Procurement
Introduction
- This report is
the third in a series informing Members on the service and resource
planning process and budget issues for 2007/08 and the medium term,
following on from reports to Cabinet on 19 September and 21 November
2006. The report sets out the review of charges, provides an update
on the service and resource planning process for 2007/08 and includes
the latest information on the Council’s financial position.
- The following
annexes are attached:
Annex 1a: Review
of charges (download as .doc file)
Annex 1b: Current
and proposed charges (download as
.xls file)
Annex 2: Funded
pressures (proposed) (download as .xls
file)
Annex 3: Pressures
met by efficiency savings and service reprioritisations (download
as .xls file)
Review of Charges
- As part of the
work in completing the business plans, service managers have reviewed
their charges. Annex 1a sets out the Councils charging policy and an
analysis of the changes in income. The proposed charges are set out
in detail in Annex 1b.
Service
and Resource Planning Process 2007/08
- Cabinet Members
and relevant officers have reviewed the business plans and challenged
the identified priorities and pressures, service reprioritisations and
proposed efficiency savings. As set out in the last report, the Cabinet
and the County Council Management Team have agreed to the provisional
allocation of some of the sum available to allocate to areas which are
likely to need some additional ongoing funding in 2007/08. This has
enabled more focus to be put on finding achievable and sustainable savings
in the remaining areas of pressure. The business plans set out the details
of how the provisional allocation will be utilised, and these are shown
in Annex 2.
- The Head of Finance
& Procurement has drawn up a schedule setting out, for each Directorate,
identified budget priorities and pressures (which are not currently
proposed to be funded) in the respective service areas and how these
could be funded along with proposed efficiency savings. These are attached
at Annex 3.
- The impact of
the budget priorities and pressures on the service are referred to in
the annex by way of a key as set out below. The impact on the service
of making the savings is also referred to by way of the same key, where:
|
1 = New
Statutory Duty or Unavoidable Pressure
|
|
2 = Significant
impact on service
|
|
3 = Moderate
impact on service
|
|
4 = Minimal/No
impact on service
|
- The risk of not
achieving the savings is also set out in the annex categorised into
high, medium or low and the types of savings proposed are also set out
in the annex. These have been categorised into: cash releasing efficiency,
income generation and service reduction. In addition a category of not
applicable has been used where there is a change in funding streams
(e.g. specific grant) or not proceeding with proposed service improvement.
A cash-releasing efficiency saving means that the budget of the service
is reduced but the same amount and quality of service is provided. Income
generation is receiving a higher level of income whilst containing expenditure.
A service reduction means that a lower level of service will be provided
and/or a lower level of quality for the same/less money.
- The table below
sets out a summary for 2007/08, by Directorate, of the budget priorities
and pressures (which are not currently proposed to be funded) and how
these could be funded categorised by type of saving:
|
Directorate
|
Pressure/
Priority
£m
|
Savings
|
N/A*
£m
|
Net
£m
|
|
Efficiency
&
Income
£m
|
Service
Reduction
£m
|
|
|
|
|
|
|
|
|
Children,
Young People & Families
|
7.6
|
-1.7
|
-0.4
|
-5.5
|
0
|
|
Social &
Community Services
|
10.3
|
-7.2
|
-1.1
|
-2.0
|
0
|
|
Environment
& Economy
|
3.4
|
-2.5
|
-0.5
|
-0.4
|
0
|
|
Community
Safety
|
0.2
|
-0.1
|
-0.1
|
0
|
0
|
|
Corporate
Core
|
0.6
|
-0.5
|
-0.1
|
0
|
0
|
|
TOTAL
|
22.1
|
-12.0
|
-2.2
|
-7.9
|
0
|
* N/A
relates to change in funding streams/not proceeding with proposed service
improvement.
Balances and Reserves
Balances
- The last report
set out a forecast on balances over the medium term based on information
available to the end of September. The Financial Monitoring report (CA
X on the agenda) sets out that balances to the end of October are £15.324m.
Although the change from the previous month is marginal (balances were
£15.285m at the end of September), there are additions to balances of
£0.8m relating to revised estimates on strategic measures (set out in
more detail in paragraph 17 below), taking additions to balances to
£2.1m. It is possible that this figure could rise further before the
year-end, consequently total additions to balances are projected to
be £2.3m. There have also been calls on balances in October of £0.8m
relating to children’s agency placements. This takes calls on balances
in 2006/07 to £2.8m. Given this and the potential for further calls
on balances in the remainder of the year, the estimated drawdown of
£3.5m in the current year is still appropriate. Estimated drawdowns
in future years have been revised to £2.0m per year based on the current
year, and the tightening financial position for the authority over the
medium term (see section on issues beyond 2007/08).
|
|
2006/07
£m
|
2007/08
£m
|
2008/09
£m
|
2009/10
£m
|
2010/11
£m
|
|
|
|
|
|
|
|
|
Estimated
Balances at Start of Year
|
13.149
|
13.997
|
11.647
|
10.154
|
10.123
|
|
Budgeted
Change in Balances*
|
2.048
|
-0.350
|
0.307
|
1.969
|
3.481
|
|
Total
Balances at Start of Year
|
15.197
|
13.647
|
11.954
|
12.123
|
13.604
|
|
|
|
|
|
|
|
|
Estimated
Use of Balances
|
-3.500
|
-2.000
|
-2.000
|
-2.000
|
-2.000
|
|
Estimated
Repayment of/Addition to Balances
|
2.300
|
|
0.200
|
|
|
|
Estimated
Balances at end of year
|
13.997
|
11.647
|
10.154
|
10.123
|
11.604
|
*
As set out in the Medium Term Service & Financial Plan 2006/07 –
2010/11
- Although the forecast
level of balances is more than the risk assessment requires in the short
term, it is necessary to maintain this position to ensure balances of
£10m over the medium term without having to set aside additions to balances
in future years where funding is tight. To ensure the level of balances
is commensurate with risk, the position will need to be reviewed annually
on the basis of performance of the budget in year.
- From the tables
in Annex 3, the total of high-risk savings is £3.2m in 2007/08. It is
appropriate to reflect some of this risk in balances for 2007/08. The
savings proposals are currently being examined establish how much should
be included.
- The position on
balances will need to be reviewed as the year progresses, in conjunction
with the risk assessment of the 2007/08 budget proposals, to determine
whether there is a surplus or shortfall in balances going forward.
Reserves
- An analysis of
the projected position in respect of earmarked reserves for 2007/08
has been undertaken to ensure that they are appropriate to service needs.
The position is summarised in the table below. Total reserves at 31
March 2006 were £39.9m, £9.7m higher than projected in the Service &
Financial Planning report to Cabinet in December 2005. £4.2m of the
difference relates to the establishment of a Shared Services Funding
Reserve which will be used to meet the set up costs of the shared services
centre progressively over the next two years. This reserve is created
from unspent capital which must be returned in order to fund the programme
in future years. The set up costs will be repaid from savings arising
from the operation of the centre. Other changes relate to an increase
on the On Street Parking Reserve of £1.1m, and the creation of a Landfill
Allowance Trading Scheme (LATS) Reserve of £0.6m representing the value
of the unused landfill allowance in 2005/06. (The value of these unused
allowances varies with the market and has recently reduced to £0.5m).
- The forecast position
for 31 March 2007 is £23.1m (as set out in the financial Monitoring
Report (CA X on the agenda), giving an expected movement of £16.8m in
reserves for 2006/07. Excluding schools, the most significant movements
relate to use of the corporate reserves. Of these, the capital reserve
is expected to use £5.0m to fund the capital programme, the Shared Services
is expected to use £2.0m to meet the set up costs incurred in 2006/07
and a projected overspend of £3.4m is expected on the carry forward
reserve due to the City Reorganisation overspend not being offset by
underspends elsewhere. This is a planned overspend which is set against
general balances.
- New reserves created
as part of the 2006/07 budget include £1.0m for a Social & Community
Services emergency fund to meet potential pressures arising from health
and £0.75m relating to pensions. The £1.0m emergency fund may not be
called upon in 2006/07 and the position will be monitored carefully.
The £0.75m pensions reserve is being held until the next revaluation
in the autumn of 2007.
- Further movement
during 2007/08 of £1.2m is anticipated resulting in projected earmarked
reserves of £24.3m by 31 March 2008. Excluding schools reserves which
can only be used by them, reserves of £8.6m are anticipated by 31 March
2008.
|
|
31
March 2006
|
31
March 2007
|
31
March 2008
|
|
|
£m
|
£m
|
£m
|
|
|
|
|
|
|
Schools
Other
|
15.6
1.5
|
10.8
1.5
|
15.7
1.5
|
|
Children,
Young People & Families
|
17.1
|
12.3
|
17.2
|
|
Social
& Community Services
Environment
& Economy
|
1.6
4.4
|
0.5
2.9
|
0.5
3.2
|
|
Community
Safety
|
0.9
|
0.3
|
0.3
|
|
Resources
& Chief Executive’s Office
Corporate
|
1.4
14.5
|
1.2
5.9
|
0.2
2.9
|
|
|
|
|
|
|
Total
|
39.9
|
23.1
|
24.3
|
Strategic Measures
- The Strategic
Measures budget has been reviewed across the period of the Medium Term
Financial Plan (MTFP). It is now anticipated that there will be a surplus
of £1.8m in 2006/07 compared to the original budget. This is reported
in the October monthly Financial Monitoring (CA X on the agenda). Looking
forward there is now estimated to be a reduction in the net cost of
Strategic Measures of £2.6m in 2007/08 (this includes the £0.4m relating
to reduced interest from recent debt restructuring and effects of Lender
Option Borrower Option (LOBO) loans previously reported) and £2.1m in
2008/09 through to 2010/11.
- The improvements
reflect a number of items, including an increase from 4.5% to 4.75%
(4.85% in 2007/08) on the interest earned on the Council’s money market
investments and the impact of surpluses on the capital programme that
are used up over the period of the MTFP. Assumptions on the costs of
borrowing to fund the Capital Programme have also been revised from
4.8% to 4.6%. The recent increase in interest rates does not impact
adversely on the long term borrowing from the Public Works Loans Board
(PWLB).
- There are risks
associated with the assumptions as market conditions can vary significantly.
These risks will be reviewed regularly so that early warnings can be
given if there are likely to be significant changes to the budgeted
figures.
- The MTFP includes
the costs of funding the Council’s full supported borrowing allocations
as currently notified or estimated. Cabinet has agreed to fund the full
supported borrowing allocations upto 2007/08 and review the position
from 2008/09 onwards.
- It is recommended
that Cabinet approves the use of supported borrowing allocations from
2008/09 onwards upto the levels included within the MTFP.
- The Council could
receive additional supported borrowing allocations in 2007/08 for Transport
as part of the notified Local Transport Plan (LTP) for 2007/08 dependent
upon the quality of the LTP submission. If additional borrowing allocations
are received there will be an increased cost to the Council of funding
that additional borrowing not currently included in the MTFP. Cabinet
will need to decide whether or not to take up the additional borrowing
as part of the final budget considerations. The LTP notification is
expected in mid-December.
Capital Programme
- A full updated
Capital Programme will be presented to Cabinet in January 2007. Last
year the County Council received a two-year capital settlement covering
2006/07 and 2007/08 from the Government for all services other than
Transport. For Transport five-year indicative figures were received
covering the period up to 2010/11. Generally it is expected that the
2007/08 settlement will just confirm the level as notified last year
except for Transport as mentioned above.
- There will be
no announcement for future years until after the Comprehensive Spending
Review (CSR) in July 2007. In terms of planning a three year capital
programme for approval by Council in February 2007 it will be assumed
that supported borrowing allocations outside Schools and Transport will
be £1m for 2009/10, this is in line with the current levels of approval.
For schools it will not be possible to set a capital programme for 2008/09
until the Council has been notified of the borrowing allocation. However
if we receive three years notification in July 2007 this will help with
planning the future capital programme for schools.
- Taking account
of the £1m projected borrowing allocation for 2009/10, there is estimated
to be £3.1m unallocated capital upto 2009/10 available for bringing
schemes forward into the capital programme (excluding Schools and Transport).
This is subject to Cabinet’s decision on the use of full borrowing allocations
beyond 2007/08.
- If allocation
of the £3.1m is agreed (subject to retention of a sum for urgent schemes
arising between now and 2009/10). Capital Steering Group should be asked
to bring forward recommendations to Cabinet as to which schemes should
be added to the Capital Programme.
- The Review of
Property Assets (ROPA) project is due to report to Cabinet in January
2007. There is likely to be a shortfall between the capital expenditure
required by the project and the capital receipts from the sale of surplus
accommodation of around £1m. The current best estimate of the revenue
implications show increased running costs (including debt financing)
which peak at around £0.2m by 2010/11. This is a relatively small cost
for the major improvements in office accommodation that will arise from
the project. There may also be other savings from the project which
are currently not costed, arising from rationalisation of reception/administration
facilities. It is proposed that the Council consider funding this project
from prudential borrowing. This is outside the current guidelines for
using prudential borrowing which requires a project to demonstrate that
borrowing costs can be covered by savings from the project. However
the benefits from this project are significant and it is recommended
that, if the Business Case is approved by Cabinet in January 2007, the
net capital costs should be funded by prudential borrowing. This will
also bring the benefit of protecting the sum available to fund new projects
in the capital programme upto 2009/10 (£3.1m).
Prudential Indicators
- As part of the
service & resource planning process for 2007/08 Council will have
to approve a set of Prudential Indicators which show that the Council’s
use of prudential borrowing is prudent, affordable and in line with
the Council’s Treasury Management Strategy. These indicators will be
taken to Council for approval in February 2007. Some of these indicators
are around the Treasury Management Strategy and will be included in
a report to Cabinet in January.
- The remaining
indicators are dependant upon either the final agreed budget position
or the notified supported borrowing allocations and cannot be calculated
at this time.
Funding
Government
Grant
- The draft Local
Government Finance Settlement announced by the Secretary of State on
28 November 2006 confirmed a formula grant figure for 2007/08 of £92.261m,
as expected.
- The consultation
period on the 2007/08 grant, which closes on 5 January 2007, gives the
Council an opportunity to express its reservations about the adjustments
that have been made to allow for changes in the capital funding arrangements.
As a result of the move to three-year settlements, the government decided
to support more capital spending by grants rather than through formula
grant. Thus the amount of formula grant had to be reduced. The reduction
for Oxfordshire County Council was £1.598m. As this estimate was based
on capital spending in 2005/06, which for Oxfordshire was an exceptional
year, it is considered that this adjustment is too large. As part of
the consultation process, it is proposed to ask the Secretary of State
to reconsider the adjustments that have been made and if appropriate,
correct the position in the 2008/09 and later grant settlements.
- For medium term
planning purposes, forecasts of formula grant are needed for four future
years. The first three of these - 2008/09, 2009/10 and 2010/11 - will
be covered by the 2007 CSR. Currently, Oxfordshire’s formula grant is
heavily damped - it explicitly includes £6.775m of 'floor damping' and
there is a further, much less apparent protection of the social care
relative needs figures, worth, in effect, a further £8.470m. As this
vast amount of damping wears off, the Council can expect to receive
grant increases that are little more than the minimum increases decided
by the Secretary of State. It is anticipated that overall grant increases
for local government in England will be low during the 2007 CSR period,
perhaps only 2% extra each year overall. The minimum increases guaranteed
by the minister must necessarily be lower than the overall increase,
so it is assumed that our formula grant will increase by 1% each year
for 2008/09, 2009/10 and 2010/11. This forecast will be able to be reviewed
when the 2007 CSR announces overall future formula grant increases,
in summer 2007.
- The report of
the Lyons inquiry is expected early in the new-year. This may radically
transform the functions and funding of local government; or it may not.
Specific
Grants
- Some specific
grant allocations have been announced for 2007/08, including confirmation
of the Dedicated Schools Grant (DSG) of £297.2m. This is an increase
of 4.8% from 2006/07. Pressures arising from anticipated or actual grant
shortfalls in 2007/08, or utilisation of additional grant are set out
in Annex 3.
- There still remains
a significant risk to the authority around specific grants which the
authority currently receives, which may instead be funded through revenue
support grant from 2008/09. As Oxfordshire is on the grant floor and
receiving damping grant, any additional funding allocated through revenue
support grant will in effect reduce the amount of damping grant received
and not provide any additional funding.
PSA
Reward Grant
- It is anticipated
that the Council will earn £7.23m of Performance Reward Grant (PRG)
from the first Public Service Agreement. The performance figures are
currently being audited and once this is complete a claim will be submitted
to Communities and Local Government (CLG). Of the £7.23m, it has been
agreed that £3.98m will be paid to external organisations (the Thames
Valley Police Authority £0.25m, the Drugs and Alcohol Team (DAAT) £0.70m
and district councils £1.33m) and £1.70m will be paid to schools. This
leaves £3.25m for the authority. The allocation of this between services
and corporate is still to be confirmed. Subject to the audit and grant
claim being timely, it is projected that the first installment of PRG
(half of the amount due) will be paid during the last months of the
2006/07 financial year. Any remaining PRG due will be paid in 2007/08.
Half of the PRG is a grant towards capital expenditure and half is for
revenue expenditure.
Issues Beyond
2007/08
- The table below
sets out a summary of the year on year pressures and equivalent savings
for each Directorate over the medium term. The more significant of these
pressures are discussed in the ensuing paragraphs.
|
Directorate
|
2008/09
|
2009/10
|
2010/11
|
|
|
Pressure
& Savings
£m
|
Pressure
& Savings
£m
|
Pressure
& Savings
£m
|
|
Children,
Young People & Families
|
4.8
|
2.0
|
0.9
|
|
Social &
Community Services
|
5.2
|
4.6
|
2.8
|
|
Environment
& Economy
|
1.8
|
1.5
|
4.4
|
|
Community
Safety
|
0.2
|
0.1
|
0.1
|
|
Corporate
Core
|
0.4
|
0.3
|
0.1
|
|
All Directorates
(pensions)
|
0.6
|
|
|
|
YEAR ON
YEAR VARIATION
|
13.0
|
8.4
|
8.3
|
Pensions
- The report to
Cabinet on 19 September 2006 set out the cost of the options for the
Council of the New-Look Local Government Pension Scheme (LGPS) to be
introduced from 1 April 2008. This ranged between an additional £2.0m
(Option 2c – career average with enhanced revaluation) and savings of
£2.1m (Option A – final salary with 7% contribution rate).
- The Minister for
Local Government, Phil Woolas announced on 23 November 2006 the proposal
to retain a reformed final salary pension scheme (Option B). Based on
the report to Cabinet in September 2006 this would cost £1.82m but that
if there were a 7% contribution rate the cost would be £0.3m. The proposed
scheme includes tiered employee contribution rates of 5.5% payable on
the first £12,000 of pensionable pay and 7.5% on the excess over £12,000,
which produces an average national rate of 6.3%. Based on this average
rate, an additional £1.0m would be required, taking the total cost to
£1.3m from 2008/09 onwards.
- In addition, our
actuary has reviewed assumptions on mortality rates. Projections show
a decrease in mortality rates which result in an additional cost estimated
to be £0.8m. Taking this into account takes the total sum required for
pensions to £2.1m. The MTFP includes £1.5m as an annual contribution
to a pensions reserve, therefore an additional £0.6m will be required
from 2008/09 to fund the changes outlined. All of the costs and assumptions
outlined are based on the 2004 data and are therefore only estimates,
figures will be confirmed when the fund is next re-valued in the autumn
of 2007.
Waste
- As reported to
Cabinet on 19 September 2006, the Oxfordshire Waste Partnership has
agreed a new Joint Municipal Waste Strategy. The strategy sets out how
the six authorities in Oxfordshire are going to work in partnership
to effectively and efficiently manage waste over the next 25 years.
The strategy addresses the need to divert waste from landfill to meet
the Landfill Allowances by considering options for future waste collection,
treatment and disposal. At their meeting on 19 September 2006, the Cabinet
also agreed to formally begin the procurement process for waste treatment
facilities to help meet Oxfordshire’s targets for reducing the amount
of biodegradable waste that is landfilled.
- The budget for
Waste set out in the MTFP is sufficient to support the disposal costs
until 2009/10. From 2010/11 the authority will either need to purchase
Local Authority Trading Scheme (LATS) allowances from other authorities
or incur LATS fines. It is currently estimated that this could cost
£2.9m in 2010/11 and a further £2.8m (over and above the £2.9m) in 2011/12.
This assumes an increase in recycling and composting rates to 40% by
the end of 2009/10.
Demography
- Oxfordshire has
significant demographic pressures relating to older people over the
medium term. Between 2006 and 2011, the over 65 population is expected
to increase by 15%. The over 85 population is expected to increase by
25% over this period and one in four people in this age group will require
a level of intensive support from the social and health care system.
In 2006 intensive support was required for 3,200 people and this is
expected to rise to 3,500, a 9% increase by 2010. Furthermore 29% of
people defined as carers are over the age of 60.
- Due to medical
advances, there is an increased life expectancy of clients with learning
disabilities. This creates a demographic pressure as these clients will
require support throughout their life. The number of clients to have
service needs is expected to rise by around 12% a year from 2007/08.
Strategy
for Community Services for Older People
- The current range,
pattern and configuration of services in the community for older people
are seen as being unsustainable in the face of rising demographic and
financial pressures.
- The service developments
that have been identified to achieve the strategic direction are:
- Significant
reduction in the use of registered residential care facilities.
- Increase in
care in the home and the development of extra care housing as alternative
accommodation options for residential care.
- Increase in
purchasing nursing care and the development of specialist provision
for meeting high dependency needs arising particularly from mental
health and dementia.
- Investment in
intermediate care and rehabilitation services to take place in a range
of settings in the community and in the service user’s own home.
- Development
of day care and support services for intermediate care and for the
support of carers.
- In addition, the
Council needs to develop sheltered and extra care housing schemes and
specialist nursing home provision. This will mean major changes to the
existing contract with Oxfordshire Care Partnership/Orders of St John
(OCP/OSJ).
- A major review
of the options for the further development of services for older people
through the contract with OCP/OSJ has started. This will establish a
5-10 year strategy for service development and asset management.
- The main financial
and operational risk to the Council in this programme is in the transition
to the new service configuration. The project will identify transitional
hump costs which are time limited resulting from the need to care for
and support people in their existing settings while the new services
are developed. These may impact on the revenue and/or capital budgets.
- It will not be
possible to be more specific about when the impact falls or exactly
how much it will cost until the detailed programme is available in July
2007. The Council will need to consider carefully how it maintains sufficient
flexibility in its revenue and capital resources in order to manage
this.
Revised Forecast of Sum
Available to Allocate
- The last report
to Cabinet on 21 November 2006 set out that the sum available to allocate
in 2007/08 was £5.6m after taking into account pressures on Homes for
Older People (HOPs) of £1.6m and additional interest from recent debt
restructuring and effects of LOBO loans. After taking into account the
changes in Strategic Measures budgets referred to in paragraph 17 above,
the sum now available in 2007/08 has increased by £2.2m to £7.8m. Of
this, £0.5m is available on a one-off basis, which leaves £7.3m available
to allocate on an on-going basis.
- The proposed funded
pressures set out in Annex 2 total £4.8m, after taking these into account
£2.5m remains. The pressures proposed to be funded are based partly
on information from the Financial Monitoring Report to September as
well as estimated future pressures. Where the monitoring position changes
the position will need to be revisited.
- The sum available
over the medium term has been revised to take account of the changes
in strategic measures and is set out in the table below:
|
£m
|
2008/09
£m
|
2009/10
£m
|
2010/11
£m
|
|
|
|
|
|
|
|
Sum available
to allocate per MTFP
|
6.8
|
6.7
|
4.7
|
7.1
|
|
Revised sum
available to allocate
|
7.9
|
7.8
|
4.5
|
7.1
|
|
Change
from MTFP
|
1.1
|
1.1
|
-0.2
|
0.0
|
|
|
|
|
|
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- The section on
issues beyond 2007/08 above refers to some significant pressures over
the medium term. If these are taken into account, there will be very
limited additional resources available in future years. Given this,
it may be prudent not to allocate the entire sum available in 2007/08
for ongoing purposes, in order that some funding could be used on an
ongoing basis in a future year when resources are limited.
Financial and Legal Implications
- This report is
mostly concerned with finance and the implications are set out in the
main body of the report. The Council is required under the Local Government
Finance Act 1992 to set a budget requirement for the authority and an
amount of Council Tax. This report provides information on the financial
position for the authority which forms a basis for those requirements,
leading to the budget requirement and Council Tax being agreed in February
2007.
RECOMMENDATION
- The Cabinet
is RECOMMENDED to:
- note
the report;
- note
those charges prescribed by legislation, and to approve those
charges where there is local discretion as set out in Annex
1, subject to consideration of any comments from Corporate Governance
Scrutiny Committee;
- ask
the Cabinet to endorse the proposed funded pressures set out
in Annex 2 as part of the budget recommendations to Council;
- approve
the use of supported borrowing allocations from 2008/09 onwards
up to the levels included in the MTFP;
- make
use of prudential borrowing for the Review of Property Assets
project if the Business Case presented to Cabinet in January
2007 is approved; and
- ask,
subject to (d) above, the Capital Steering Group to bring forward
recommendations for schemes to be included in the Capital Programme
for 2007/08 to 2009/10.
JOANNA
SIMONS
Chief Executive
JOHN
JACKSON
Director for
Resources
SUE
SCANE
Head of Finance
& Procurement
Background
papers: Nil
Contact
Officers:
Lorna Baxter - Strategic Financial Planning Manager Tel 01865 816087
Mike Petty – Strategic Financial Planning Manager Tel 01865 815422
Paul Edwards Tel 01865 815307
December
2006
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