Issue - meetings

To consider the Council’s performance to date and to agree budget variations.

RESOLVED:

(a)         That the revised outturn forecasts for the General Fund (paragraph 3.2 of Report Item 5 considered by the Cabinet). Capital (paragraph 4.1) and Housing Revenue Account (paragraph 5.1) be noted:

RECOMMENDED:

(b)         That additional expenditure of £2.492 million on Housing acquisitions and Developments be approved; and

(c)         That the Medium Term Financial Plan include provision for the transfer of £326,000 into the Local Plan Reserve and £300,000 be set aside for any one-off costs required to support the delivery of future ongoing savings.

The Cabinet considered the Council’s financial performance for the period up to October 2015, including the key variations that had been identified since the last report in August. 

The estimated outturn of the General Fund had reduced by £684,000 to £18.911 million, through a number of efficiencies and savings, including from delays in filling vacant posts.

It was proposed that savings currently identified against the General Fund should be set aside to cover part of the projected cost of the Local Plan Review and also as a contingency to meet the one-off costs of transitional arrangements to achieve future savings, without affecting reserves.

There was also a substantial reduction in the proposed Capital Programme, to £18.230 million, mainly from the rephasing of projects.

A further increase in the Housing Acquisitions and Development Budget of £2.492 million had been recommended by the Affordable Housing Project Board.

RESOLVED:

(a)         That the revised outturn forecasts for the General Fund (paragraph 3.2 of Report Item 5 considered by the Cabinet). Capital (paragraph 4.1) and Housing Revenue Account (paragraph 5.1) be noted:

RECOMMENDED:

(b)         That additional expenditure of £2.492 million on Housing acquisitions and Developments be approved; and

(c)         That the Medium Term Financial Plan include provision for the transfer of £326,000 into the Local Plan Reserve and that £300,000 be set aside for any one-off costs required to support the delivery of future ongoing savings.