Issue - meetings

(1)       Ms McMullan presented a report which summarised the projected outturn figures for the Chief Executive’s Directorate and Financing Items as at the third quarter.

(2)       Members were given the opportunity to ask questions or to make comments on the quarterly monitoring report, and these included the following issues:-

• In response to a question, Mr Wood confirmed that the adjusted figure for LABGI (Local Authorities Business Growth Incentives Scheme) to take account of the recent release of national LABGI monies did not have any impact on the 2009/10 budget as this had already been anticipated in the MTP.
• Mr Wood confirmed that any other disposals outside of the anticipated capital receipt of £7,411k for this financial year (page 19) would go via the Property Enterprise Fund 2.
• Mr Wood explained the reason for the forecast overspend of £268k for ISG.
• It was agreed that a note on the overspend of £250k against the target for outdoor advertisements would be sent to all Committee members.
• In response to a question about whether KCC had bulk purchased oil, and, if so, what was the loss on this now that the price per barrel had dropped, Mr Chard was able to confirm that KCC bought its oil to order on the wholesale market and therefore there was no loss to report.  In addition, KCC hedged the purchase of its electricity and oil which had led to a 20% - 30% saving.
• Mrs Dean congratulated the legal department on its increased income.
• Members would be supplied with a note on the underspend on HealthWatch.
• In relation to the unrealised savings on the ISG budget, Mr Cockburn explained that this was a result of unanticipated demand, which had an impact on ISG support staff.

(3)       RESOLVED that:- 

            (a) the projected outturn figures for the Chief Executive’s Directorate and Financing Items, as at the third quarter be noted; and

            (b) any briefing notes or additional information requested during the meeting be sent to all Members of the POC.