Issue - meetings

Cabinet Member: Finance & Property

Forward Plan Ref: 2011/046

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

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

Monthly financial report on revenue and capital spending against budget allocations, including virements between budget heads. This is the second report for 2011/12 and covers the period to the end of May 2011 for both revenue and capital budgets.This report 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 so parts 1 and 2 include projections for revenue, reserves and balances as at the end of May 2011.  The Capital monitoring and Capital Programme Update is included in Part 3.  A proposal to reinstate charges for parking in Oxford City Centre on Sundays is set out in Part 4.

The Cabinet is RECOMMENDED to:

(a)               note the report;

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

(c)               approve the on-street parking charges for Oxford city for evenings and Sundays as set out in paragraph 64;

(d)              recommend that Council approve the allocation of £1.5m of additional grant funding to the Older Peoples Pooled Budget as set out in paragraph 38;

(e)               approve the updated Capital Programme as set out in Annex 10 and the associated changes to the programme in Annex 9c.

RESOLVED:             to:

(a)               note the report;

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

(c)               approve the on-street parking charges for Oxford city for evenings and Sundays as set out in paragraph 64;

(d)               RECOMMEND that Council approve the allocation of £1.5m of additional grant funding to the Older Peoples Pooled Budget as set out in paragraph 38;

(e)               approve the updated Capital Programme as set out in Annex 10 and the associated changes to the programme in Annex 9c.