Issue - meetings

This report presents Cabinet with details of the Council’s financial position for the period covering 1 April to 30 June 2014, together with an overview of any emerging issues.  The report also assesses performance against budgets, including progress in delivering the Council’s savings programme.

Resolved:  That Cabinet agree to:

(i)           Note the current financial position of the Council, as set out in the report;

(ii)          Allocate £600k of contingency to meet pressures in Health & Wellbeing, as set out at paragraph 23 of the report;

(iii)        Invest £40k in the municipal bonds agency, as set out at paragraphs 31 and 32 of the report;

(iv)        The virement of internal payments made between Health & Wellbeing and CANS as set out at paragraph 15 of the report;

(v)         Donate £10k of the strike savings to support the work of food banks and the remaining saving to Health & Wellbeing, as set out at paragraph 29 of the report;

(vi)        A travellers rent increase, as set out in paragraphs16 to 18 of the report.

Reason:     To ensure expenditure is kept within the approved budget.

Consideration was given to a report which presented details of the Council’s financial position for the period covering 1 April to 30 June 2014 and provided an assessment of performance against budgets.

It was noted that financial pressures were forecast at £2,924k, compared to £3,722k at the same time last year and that it was proposed to allocate £600k of contingency to known Health and Wellbeing pressures, bringing the overall position down to £2,324k.

The Leader gave an overview of the forecast on a directorate basis as shown in Table 1 and detailed some of the main variations as reported in paragraphs 8 to 26. He confirmed that following the industrial action in July, that the one off saving of around £10k  would be donated to support the work of the food bank charity with the remainder going to assist Health and Wellbeing pressures.

Resolved:  That Cabinet agree to:

(i)           Note the current financial position of the Council, as set out in the report;

(ii)          Allocate £600k of contingency to meet pressures in Health & Wellbeing, as set out at paragraph 23 of the report;

(iii)        Invest £40k in the municipal bonds agency, as set out at paragraphs 31 and 32 of the report;

(iv)        The virement of internal payments made between Health & Wellbeing and CANS as set out at paragraph 15 of the report;

(v)         Donate £10k of the strike savings to support the work of food banks and the remaining saving to Health & Wellbeing, as set out at paragraph 29 of the report;

(vi)        A travellers rent increase, as set out in paragraphs16 to 18 of the report.

Reason:     To ensure expenditure is kept within the approved budget.