Decision details

To consider the month end budget report and make any recommendations as appropriate

(1)     That the revenue budget to the end of June 2014 and the forecast outturn for 2014/15, as set out in the submitted report, be noted.

(2)     That the forecast ongoing efficiencies and service reductions achieved by year end, as set out in the submitted report, be noted.

(3)     That the capital budget position to the end of June 2014 and the forecast expenditure for 2014/15, as set out in the submitted report, be noted.

(4)     That the first quarter balance sheet, reserves, debt and treasury management report, including debt written off under the Director of Finance’s delegated authority, be noted.

(5)     That the Chief Executive’s and Director of Finance’s assessment of the council’s efficiency savings programme be noted.

(6)     That the request from Environment and Infrastructure for £0.3m additional funding, to cover planning and development work on the schools expansion programme, be approved.

(7)     That the re-profiling of the council’s capital programme for the years 2014 to 2019, as set out in the submitted report, be agreed.

(8)      That use of £1.8m revenue and £1.2m of capital developer contributions to fund the costs of response and recovery from the severe weather and flooding be approved.

(9)       That use of £10m of the current capital budget to fund the capital costs incurred in 2014/15 be approved.

(10)    That Highways realigns the revenue budget to respond to service pressures including flood repairs.

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Reasons for Decisions:

This report is presented to comply with the agreed policy of providing a monthly budget monitoring report to Cabinet for approval and action as necessary. Additionally, there is an up-date on the wider Medium Term Financial Plan (MTFP 2014-19), in terms of the implications for savings delivery and the severe weather on the councils revenue and capital budgets. This up-date was requested when the MTFP was agreed in March 2014.

The Cabinet approved the carry forward of capital budget from 2013/14 at its meeting in May 2014. Since the setting of the capital budget, the schools basic need and property programmes have been reassessed. The recommendation of this report is to re-profile the council’s capital programme to ensure that its objectives are delivered and value for money is achieved.

[The decisions on this item can be called in by the Council Overview and Scrutiny Committee]