Issue - meetings

Cabinet Member: Leader

Forward Plan Ref: 2009/109

Contact: Kathy Wilcox, Principal Financial Manager (01865 323981) Ref: 2009/109

Report by: Assistant Chief Executive & Chief Finance Office (CA6)

This is the sixth financial monitoring report for the 2009/10 financial year and covers the period up to the end of September 2009 for both revenue, balances, reserves and capital. 

The report sets out explanations where the forecast revenue outturn is significantly different from the budget along with proposals to recover the position where appropriate. The in – year Directorate forecast is an overspend of £3.484m.

The current position for general balances shows an unchanged forecast of £14.088m.  After taking into account the forecast Directorate overspend, the consolidated revenue balances forecast is £10.604m.

The report also includes Capital monitoring against the programnme agreed last month.

Cabinet is RECOMMENDED to:

(a)               note the report; and

(b)              approve the virements as set out in Annex 2a.

The Cabinet received the sixth financial monitoring report for the 2009/10 financial year covering the period up to the end of September 2009 for both revenue, balances, reserves and capital. 

The current position for general balances showed an unchanged forecast of £14.088m.  After taking into account the forecast Directorate overspend the consolidated revenue balances forecast was £10.604m.

Officers drew attention to the supplementary report and additional recommendation contained in the addenda.

The Leader highlighted three areas where he would wish to see further work undertaken:

·         Putting more detail on the Children’s Young People & Families Action Plan including targets and timescales

·         Providing further analysis/information about future Direct Schools Grant

·         The ongoing impact with regard to young unaccompanied asylum seekers.

He drew attention to pressures: around pooled budgets in Social & Community Services; on ICT services and outside County placements for looked after children. Cabinet noted the action being taken as detailed by individual Cabinet Members.

RESOLVED:                        to:

(a)        note the report;

(b)               approve the virements as set out in Annex 2a.

(c)        agree the extension of the reduction in payment terms for small to medium sized businesses from 28 to 14 days for a further year and to the replacement of the lost interest by LABGI funding.

Cabinet Member: Finance & Property

Forward Plan Ref: 2009/034

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

Report by Assistant Chief Executive & Chief Finance Office (CA5).

This report sets out the Council’s forecast financial position for the 2009/10 financial year based on four months of actuals to the end of July 2009.  It includes projections for revenue, balances, reserves and capital.  The report sets out explanations where the forecast revenue outturn is significantly different from the budget along with proposals to recover the position where appropriate.  

The in – year Directorate forecast is an overspend of £4.013m for revenue and £14.166m for general balances.  After taking into account the forecast revenue overspend, the consolidated revenue balances forecast is £10.153m.

Carry forwards from 2008/09 were approved by Cabinet on 23 June 2009 as part of the Provisional Outturn Report for 2008/09 and are now included in the latest budget.

The report also includes an updated Capital Programme and update about progress in respect of Building Schools for the Future.

The Cabinet is RECOMMENDED to:

(a)              note the report;

(b)              approve the virements as set out in Annex 2a;

(c)               approve the supplementary estimate request as set out in Annex 2f and paragraph 26 and 33;

(d)              approve the transfer of £0.027m surplus pay inflation from Community Safety to the Efficiency Savings Reserve as set out in paragraph 48; and

(e)              Confirm agreement that the Readiness to Deliver statement for Building Schools for the Future should be submitted to the Partnership for Schools by 17 September 2009.

The Cabinet considered a report (CA5) which set out the forecast financial position for the 2009/10 financial year based on four months of actuals to the end of July 2009.  It included projections for revenue, balances, reserves and capital.  The report set out explanations where the forecast revenue outturn was significantly different from the budget along with proposals to recover the position where appropriate.  

The in-year Directorate forecast was an overspend of £4.013m for revenue and £14.166m for general balances.  After taking into account the forecast revenue overspend, the consolidated revenue balances forecast was £10.153m.

Carry-forwards from 2008/09 were approved by Cabinet on 23 June 2009 as part of the Provisional Outturn Report for 2008/09 and were now included in the latest budget.

The report also included an updated Capital Programme and update about progress in respect of Building Schools for the Future.

As noted in paragraph 47 of the Financial Monitoring Report the Employer’s final offer in settlement of the 2009/10 claim was made on 22 July 2009.  The offer was accepted by the Unions on 10 September 2009 and agreement reached on the rates of pay applicable from 1 April 2009. Spinal Column Points 4-10 inclusive have been increased by 1.25%, and SCP 11 and beyond by 1.00%.

The agreement also provided for an additional day of annual leave for those with less than five years service currently entitled to 20 days.  Oxfordshire County Council’s minimum annual leave entitlement is 24 days so this does not apply to any staff employed by the Authority.

Further detail would be provided in the August report.

RESOLVED:            to:

(a)          note the report;

(b)          approve the virements as set out in Annex 2a;

(c)          approve the supplementary estimate request as set out in Annex 2f and paragraph 26 and 33;

(d)          approve the transfer of £0.027m surplus pay inflation from Community Safety to the Efficiency Savings Reserve as set out in paragraph 48; and

(e)                                                          Confirm agreement that the Readiness to Deliver statement for Building Schools for the Future should be submitted to the Partnership for Schools by 17 September 2009; and

(f)                                                            approve the transfer of £0.8m estimated surplus pay inflation from Directorate budgets for 2009/10 to the Efficiency Savings Reserve.