Issue - meetings

Cabinet Member: Finance & Property

Forward Plan Ref: 2010/112

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

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

This is the forth financial monitoring report for the 2010/11 financial year and covers the period up to the end of September 2010.  Part 1 & 2 set out the Council's forecast position for the 2010/11 financial year and include projections for revenue, balances, reserves. The capital programme monitoring and update is dealt with at Part 3.

The Cabinet is RECOMMENDED to:

(a)              note the report and approve the virements as set out in annex 2a;

(b)              approve the Supplementary Estimate requests as set out in annex 2f and paragraph 46.

Cabinet considered the next in the regular series of monitoring reports for the 2010/11 financial year covering the period up to the end of September 2010.  Part 1 & 2 set out the Council's forecast position for the 2010/11 financial year and included projections for revenue, balances, reserves. The capital programme monitoring and update was dealt with at Part 3.

Councillor Alan Armitage, Shadow Cabinet Member for Finance & Property referred to the earmarked reserves set out on pages 92-95 of the agenda and expressed the hope that with central government saying that ring fencing was to end that these would be reviewed aggressively.

The Cabinet Member for Finance & Property highlighted areas of concern including the Social & Community Services overspend and pooled budgets but overall believed that the position was as expected at this time of the year. Cabinet Members responded to the comments advising of action taken. The Cabinet Member for Children, Young People & Families commended the hard work of the Director for Children, Young People & Families which meant that the Directorate was looking at a balanced budget.

The Deputy Leader commented that Shared Services were now bringing about the budgeted savings 9 months early.

RESOLVED:             to:

(a)               note the report and approve the virements as set out in annex 2a;

(b)               approve the Supplementary Estimate requests as set out in annex 2f and paragraph 46.