Issue - meetings

RESOLVED:

1.       That the Council forecasts an improved revenue position for 2014/15 of of -£2.7m underspend, up from -£0.5m at 31 October 2014. This position includes the need to fund planned commitments that will continue beyond 2014/15, bringing the underlying position down to -£1.2m underspend.  As set out in Annex1, paragraph 2 of the submitted report.

2.       That services forecast achieving an improved position on efficiencies and service reductions by year end of £70.0m as set out in Annex1, paragraph 64 of the submitted report.

3.       That the Council forecasts investing £203m through its capital programme in 2014/15 as set out in Annex1, paragraph 68 of the submitted.

4.       That services management actions to mitigate overspends as set out throughout Annex1 of the submitted report.

5.       That the Bellwin grant compensating the council for costs it incurred responding to the flooding in the winter of 2013/14 and which it funded from general balances to the Budget Equalisation Reserve to support future year’s budgets  is transferred as set out in Annex1, paragraph 54 of the submitted report.

6.       That the new government grant for Universal Infant Free School Meals to schools in accordance with the grant’s conditions is allocated as set out in Annex1, paragraph 9 of the submitted report.

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.

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

The Leader of the Council introduced the budget monitoring report for month eight of 2014/15, the period up to 30 November and stated that the forecast revenue position was an under spend of -£2.7m at year end. He clarified that the need to fund planned commitments that would continue beyond 2014/15 resulted in the underlying position being -£1.2m under spent which was an improvement on October’s forecast outturn of -£0.5m under spent.  He noted that this followed improvements of nearly £3m over the previous two months.

He highlighted the Council’s four key drivers as being; keeping additional call on the council tax payer to a minimum, continuously driving the efficiency agenda, developing a funding strategy to reduce the Council’s reliance on council tax and government grant income and continuing to maximise investment in Surrey.

Other Cabinet Members were invited to highlight the key points and issues from their portfolios, as set out in the Annex to the report.

RESOLVED:  

1.     That the Council forecasts an improved revenue position for 2014/15 of of -£2.7m underspend, up from -£0.5m at 31 October 2014. This position includes the need to fund planned commitments that will continue beyond 2014/15, bringing the underlying position down to -£1.2m underspend.  As set out in Annex1, paragraph 2 of the submitted report.

2.     That services’ forecast achieving an improved position on efficiencies and service reductions by year end of £70.0m as set out in Annex1, paragraph 64 of the submitted report.

3.     That the Council forecasts investing £203m through its capital programme in 2014/15 as set out in Annex1, paragraph 68 of the submitted.

4.     That services management actions to mitigate overspends as set out throughout Annex1 of the submitted report.

5.     That the Bellwin grant compensating the council for costs it incurred responding to the flooding in the winter of 2013/14 and which it funded from general balances to the Budget Equalisation Reserve to support future year’s budgets  is transferred as set out in Annex1, paragraph 54 of the submitted report.

6.     That the new government grant for Universal Infant Free School Meals to schools in accordance with the grant’s conditions is allocated as set out in Annex1, paragraph 9 of the submitted report.

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.