Issue - meetings

The Cabinet Member for Finance and Education presented a report on the Council’s revenue and capital budget position for 2011/12 as at 30 September 2011. 

The General Fund showed an improved position at the end of September with a projected year-end overspend of £2.2m (before the planned £1.5m contribution to balances) compared to £4m as reported at the last meeting.  The Cabinet Member referred to the current areas of overspend which included £0.8m in the Environmental Services division and the Corporate Director of Housing and Environment advised that action plans had been drawn up to mitigate these overspends as well as the £1m shortfall in delivering the in-year savings target. 

The Cabinet Member confirmed that the Housing Revenue Account (HRA) continued to show a positive position, with a projected additional contribution to the HRA reserve of £71,000, and he outlined the current position in respect of the Capital Programme. 

The report also contained proposals in respect of a transfer from the Contingency budget to meet a shortfall in savings due to the delay in implementing revised terms and conditions of employment across the Council, capital budget adjustments to reflect the current status of projects and a General Fund transfer from Housing to Revenues and Benefits.  In respect of the latter, the Cabinet Member advised that the proposal had been deferred pending further discussions.

Cabinet agreed:-

  (i)  To note the projected outturn position for 2011/12 of the Council’s revenue budget as detailed in paragraphs 2.3 to 2.12 and Appendix A of the report;

  (ii)  To note the progress against the 2011/12 savings targets as detailed in paragraph 2.13 and Appendix B of the report;

 (iii)  To note the position for the HRA as detailed in paragraph 2.14 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 2.15 and Appendix D of the report;

  (v)  Approve the transfer from the Contingency budget of £630,000 to offset the savings shortfall in Central Expenses; and

 (vi)  Approve the capital budget adjustments as set out in appendix E of the report.