Issue - decisions

Financial Monitoring - July 2010

21/07/2010 - Financial Monitoring - July 2010

Recommendations set out in the report and addenda agreed subject to the addition recommendation shown in bold below:

 

(a)               note the report and addenda;

(b)               note the changes to 2010/11 grant allocations;

(c)               agree the change to the allocation of Harnessing Technology grant as recommended by the Schools Forum on 19 July 2010;

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

 

(e)               approve the updated capital programme as set out in Annex 6.

 

(f)                 agree the moratorium on capital schemes in 2010/11 that are not yet committed;

 

(g)               agree to release the capital schemes set out in Annex 8 from the moratorium;

 

(h)               agree that any further urgent changes to the schemes held in the capital programme moratorium ahead of further review in the Autumn should be delegated to the Chief Executive and Chief Finance Officer after consultation with the Leader of the Council and Cabinet Member for Finance & Property;

 

(i)                 recommend Council to approve the reductions in revenue grant funded expenditure and related virements as set out in revised Annex 3e; and

 

(j)                  note the increase in VAT with effect from 4 January 2011, and agree that the current scale of charges will not be amended in 2010/11;

 

(k)               recommend Council to agree the changes to the Specified and

Non-Specified Investment instruments section of the Treasury

Management Strategy;

 

(l)                  recommend Council to agree that any further changes required to the Annual Treasury Management Strategy & Annual Investment Strategy can be delegated to the Chief Finance Officer in consultation with the Leader of the Council and Cabinet Member for Financeand property; and

 

(m)             hold play pathfinder schemes in the moratorium; negotiate with the DfE about the release of schemes where building works have not yet commenced and make representations for other third parties who have made an investment in schemes; if funding is withdrawn, seek to recover as far as possible any money paid out.