Issue - meetings

(1)       Mr Wood introduced the second of the regular reports to this Committee on the forecast outturn against the budget for the Chief Executive’s Department and Financing Items Budget.  Attached as an annexe were the monitoring reports for the second quarter. The covering report contained updated information to reflect the very latest position, particularly on the Financing Items budget.  Mr Wood then highlighted the major variations in this. 

(2)       In addition to the items identified in the report Mr Wood, reported an underspend in capital for Kent TV.  There was a budget of £200,000 for studios etc and it was anticipated that there would be an £100,000 underspend in the current financial year.

(2)       Members were then given the opportunity to ask questions or make comments on the quarterly monitoring report which included the following issues.

·                    It was confirmed that the EuroKent facility was a joint venture between Thanet District Council and KCC.  It was an opportunity to make a substantial capital gain and to regenerate by getting an access road built at an earlier stage.

·                    Kent Works – (Page B1:5) – it was the newly establish 14-24 Innovation Unit  would be involved with delivering the work experience programme to ensure that it was fit for purpose.  The aim was to make work experience part of the school year, like the 14-16 apprenticeships.  The lead for this was Ms P Smith who was working with Ms Wainwright in CF&E directorate.  

·                    Property disposal shortfall – it was stated that there was still an expectation that the latest MTP target for 2007/08 for property disposals would be achieved by the end of the financial year. However, if it was not, the officers did not believe that this would cause a significant cash flow issue. 

·                    The Leader highlighted the impact that the increasingly complex planning process had upon achieving capital receipt from the release of assets.  There had been a dedicated team established to drive through these capital receipts as quickly as possible to achieve maximum value.

(3)       RESOLVED That the projected outturn figures for the Directorate as at the at the second quarter be noted.