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 November 2011.

The General Fund continued to show an improved position with a projected year-end overspend of £1.2m (before the planned £1.5m contribution to balances) compared to £1.8m as reported at the last meeting.  The Cabinet Member commented on the ongoing steps to reduce the overspend as well as 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 (£716,000).  In respect of the latter, it was proposed to transfer £307,000 from the Contingency Budget to offset the savings shortfall in relation to the delays in implementing revised staff terms and conditions (£190,000) and introducing staff parking permits (£117,000), and to also transfer £1.406m from the Contingency Budget to meet the ongoing budget issues experienced in the Revenues and Benefits division which had been referred to at the Cabinet meeting on 22 November 2011 (Minute 65 refers).

The Housing Revenue Account (HRA) showed a decline on the previous month’s position, with a projected overspend of £45,000, 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 to 2.11 and Appendix A of the report;

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

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

 (iv)  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;

  (v)  Approve transfers from the Contingency Budget of £307,000 to offset aspects of the savings shortfall in the Environment Division and £1.406m to address the ongoing budget issues experienced in the Revenues and Benefits service; and

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