Issue - meetings

Cabinet Member: Leader

Forward Plan Ref: 2012/150

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

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

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. This is the penultimate report for the year.  The Provisional Outturn Report will be considered by Cabinet on 18 June 2013.  Parts 1 and 2 include projections for revenue, reserves and balances as at the end of February 2013.   Capital monitoring is included at Part 3. Fees and Charges are included in Part 4.

The Cabinet is RECOMMENDED to:

(a)      note the report;

(b)      Approve virements for financial year 2012/13 included in Annex 9;

(c)      Agree the creation of a new reserve for the renewal of Print Machinery as set out in paragraph 37;

(d)      note the Treasury Management lending list at Annex 7;

(e)      approve changes to the programme in Annex 8c;

(f)        approve the use of the additional Capital funding as set out in paragraphs 48 to 50;

(g)      approve the charges for Environment & Economy as set out in paragraph 51 and Annex 10.

Councillor Hudspeth gave notice of his intention to move the following amendment to recommendation (f):

(f)        to approve the use of the additional capital funding as set out in paragraphs 49 and 50 and approve the use of the additional highways capital funding in 2013/14 (referred to in paragraph 48)

Councillor Smith referred to the small underspend in the last financial monitoring report of the 12/13 year which was worrying. She highlighted that of greater concern was the increase in the reserves to £115m with further reserves to be agreed today. She expected to hear that the reserves were there for a reason but year on year they had increased. She hoped that following the election cabinet members would query why the money was not being spent on services.

Responding to a question from Councillor Hudspeth about what changes Councillor Smith would make she replied that each area would be reviewed.

The Leader in moving the recommendations as amended in the addenda and as set out above explained that the money referred to in paragraph 49 had come in and was going to adult services. At the budget County Council meeting they had looked at everything in detail. The reserves were looked at but they were there for a reason. They were not general reserves where the complaint might then have some validity. The Leader thanked Kathy Wilcox and the Finance Team for all the work they did and felt that 0.7% underspend was a good achievement. However the underspend was not treated lightly and specific underspends were closely monitored to see that they did not reoccur each year.

Councillor Rose, Deputy Leader with responsibility for transport welcomed the amendment proposed by Councillor Hudspeth. Although Oxfordshire roads were not as bad as in many areas the weather conditions had caused some problems and the funding was welcome.

Lorna Baxter responded to questions from Councillor Melinda Tilley about the Basic Needs Budget for Schools and provision for disadvantaged two year olds.

During further discussion cabinet members supported the amendment and the use of earmarked reserves

RESOLVED:             to:

(a)       note the report;

(b)       approve virements for financial year 2013/14 included in Annex 9;

(c)       agree the creation of a new reserve for the renewal of Print Machinery as set out in paragraph 37;

(d)       note the Treasury Management lending list at Annex 7;

(e)       approve changes to the programme in Annex 8c;

(f)        approve the use of the additional capital funding as set out in paragraphs 49 and 50 and approve the use of the additional highways capital funding in 2013/14 (referred to in paragraph 48);

(g)       approve the charges for Environment & Economy as set out in paragraph 51 and Annex 10.