Issue - meetings

Cabinet Member: Finance

Forward Plan Ref: 2012/077

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

Report by Assistant Chief Executive & Chief Finance Officer (CA7).

This report focuses on the delivery of the Directorate Business Strategies which were agreed as part of the Service and Resource Planning Process for 2012/13 – 2016/17.  Parts 1 and 2 include projections for revenue, reserves and balances as at the end of August 2012.   The Capital monitoring is included at Part 3.

The Cabinet is RECOMMENDED to:

a)                 note the report;

b)                approve the virement requests set out in Annex 2a;

c)                 note the updated Treasury Management lending list at Annex 7; and

d)                 approve the updated Capital Programme at Annex 9 and the associated changes to the programme in Annex 8c.

Cabinet considered a report that focussed on the delivery of the Directorate Business Strategies which were agreed as part of the Service and Resource Planning Process for 2012/13 – 2016/17.  Parts 1 and 2 included projections for revenue, reserves and balances as at the end of August 2012. The Capital monitoring was included at Part 3.

Councillor Roz Smith, Shadow Cabinet Member for Finance expressed concerns over the PCT pooled budget overspend. She also highlighted underspends in education and early intervention and highways and emphasised concerns previously expressed about the growing reserves. Referring to the savings for Thornhill Park & Ride she asked that some of the savings be used to alleviate parking problems in the area, particularly to reduce inconsiderate parking.

The Leader in moving the recommendations commented that the physical disability budget would be overspent. He defended the reserves and balances and indicated that that the £20m efficiency reserve would reduce.

Councillor Heathcoat referred to paragraph 10 of the report which referred to the increase in firefighters pay. She noted that the Council had no control over that figure which was decided by the NJC and that in line with a number of other Councils she had written to the Local Government Association querying it.

RESOLVED:                        to:

(a)                     note the report;

(b)                     approve the virement requests set out in Annex 2a;

(c)                     note the updated Treasury Management lending list at Annex 7; and

(d)                   approve the updated Capital Programme at Annex 9 and the associated changes to the programme in Annex 8c.