Issue - meetings

The Cabinet Member for Finance and Central Services introduced the report on the Council’s capital and revenue position for the 2015/16 financial year, as at 30 September 2015.

The General Fund showed a projected end of year spend of £157.5m against the approved budget of £151.4m, which represented a slightly improved position to that at 31 August.  The projected overspend of £6.1m continued to be largely attributable to the ongoing pressures within the Children’s Social Care service and the Cabinet Member confirmed that the remedial measures contained within the Children’s Social Care Ambition and Financial Efficiency (SAFE) Programme action plan, together with pressures identified in other Directorates, would continue to be closely monitored. 

The Housing Revenue Account (HRA) continued to show a predicted breakeven position and the in-year General Fund savings for 2015/16 were largely on target, with a forecast saving of £21.889m against the overall target of £23.52m.  In respect of the Capital Programme, the Cabinet Member referred to the mid-year reprofiling to reflect updated work / build programmes and advised on a number of new capital schemes for inclusion in 2015/16, the overall effect being a reduced Capital Programme of £131.511m.

Cabinet resolved to:

(i)  Note the projected outturn position for 2015/16 of the Council’s General Fund revenue budget at 30 September 2015, as detailed in paragraphs 2.1, 2.4 to 2.10 and Appendix A of the report;

(ii)  Note the progress against the agreed 2015/16 savings at 30 September 2015, as detailed in paragraph 2.11 and Appendix B of the report;

(iii)  Note the overall position for the HRA at 30 September 2015, as detailed in paragraph 2.12 and Appendix C of the report; and

(iv)  Approve the inclusion of new capital schemes shown below totalling £11.898m and the re-profiled 2015/16 Capital Programme of £131.511m, as detailed in paragraph 2.13 and Appendix D of the report:

·  Parsloes Park Artificial Turf Pitch  £0.06m

·  Bus Stop Accessibility Improvements  £0.097m

·  Gascoigne Estate  £3.0m

·  External Fabrics - Blocks  £0.141m

·  Decent Homes (North) Programme  £3.1m

·  Decent Homes (South) Programme  £4.6m

·  Fire Safety Works Programme  £0.9m