Decision details

The Cabinet will be asked to consider the projected position of the Council’s revenue and capital budgets for 2010/11 and if necessary consider proposals for in year adjustments aimed at achieving a balanced budget position at the year end

The Cabinet Member for Finance and Education presented a report on the Council’s revenue and capital budget position for 2011/12 as at 31 October 2011. 

The General Fund showed an improved position at the end of October with a projected year-end overspend of £1.8m (before the planned £1.5m contribution to balances) compared to £2.2m as reported at the last meeting.  The Cabinet Member also referred to directorates’ achievement against the savings targets for the current year and the steps being taken to mitigate the projected shortfalls in Adult and Community Services (£200,000), Children’s Services (£174,000) and Housing and Environment (£766,000).  In respect of the potential savings risk related to community halls, the Corporate Director of Adult and Community Services advised that the agreements with community associations for the transfer of leases had all now been signed.

The Housing Revenue Account (HRA) continued to show a positive position, with a projected additional contribution to the HRA reserve of £197,000, and the Cabinet Member also referred to the current position in respect of the Capital Programme and proposals to adjust some capital budgets to reflect the current status of projects.

Cabinet agreed:-

  (i)  To note the projected outturn position for 2011/12 of the Council’s revenue budget as detailed in paragraphs 2.3 - 2.11 and Appendix A of the report;

  (ii)  To note the progress against the 2011/12 savings targets as detailed in paragraph 2.12 and Appendix B of the report;

 (iii)  To note the position for the HRA as detailed in paragraph 2.13 and Appendix C of the report;

 (iv)  To note the projected outturn position for 2011/12 of the Council’s capital budget as detailed in paragraph 2.14 and Appendix D of the report; and

  (v)  To approve the capital budget adjustments as set out in appendix E of the report.