Minutes:
– Report of Deputy Leader and Cabinet Member for Finance and Procurement and Mr A Wood, Corporate Director of Finance and Procurement)
(1) Cabinetreceivedthe first exceptionreportof2013/14thepurpose of whichwasto provideinformationonissuesarisingfromthe2012/13outturnas discussedatthe previousitem. Inaddition the report provided initial forecasts forthe2013/14 revenueandcapitalbudgets.
(2) TheCabinetMember forFinance andProcurementintroducedthereportandin particular referred to thefollowing:
(i) That thisreportwaskey tomonitoring the successofthe 2013/14 budgetand showedsome progress toward the 95msavings allocated to next years budget by recordinga smallunderspendof£348,000. Heurgedcautionatthisstage; the resultsweresatisfactorybut requiredcareful monitoring andattention.
(ii) Thatpressureshadalreadybeenidentifiedintheareasofhometoschool specialneedstransportandtheEnvironment,Highwaysand Waste Directorate,inthelattercaseowingtotheadditional£2.5mcostsoffindand fixworksrequiredaftera particularlyprolongedwinter. Itwashopedthat thesecostswouldbeatleastpartially offsetby thecontinuedreductionin wastetonnage.
(iii) ThattheFinanceDirectorateshowedanearlyunderspendof3.7mbutthat thiswaslargelyattributabletoanunpredictedadditionalgovernmentfunding of £3.2m
(iv) Inrelationtothecapitalbudgetthetotalwascurrently£602mbutwaslikelyto increaseto£641minlightoftherephasingagreedaspart of theoutturnreport consideredunderthe previous item.
(3) TheCorporateDirector forFinanceand Procurementreportedthatthepapers containeda reference on page183totheEducation, LibrariesandSkillsDirectorate whichshouldhaveread Education,LearningandSkills.
(4) It was RESOLVED:
CABINET Revenue and Capital Budget Monitoring Exception Report 2013/14 15 July 2013 |
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1. |
That at the appropriate time, as set out in the report, additional one-off government funding, as detailed in 4.7.1 to 4.7.4 be transferred to reserves and until then be held centrally. |
2. |
That within the Enterprise and Environment Capital Programme £300,000 from Non-TSG Land and Part 1 claims be vired to major scheme preliminary design as per paragraph 5.4 of the report. |
3. |
In addition Cabinet was asked to have particular regard to the following information and it was noted: · That the initial forecast revenue and capital budget monitoring position for 2013/14 was as detailed in the report. |
REASON |
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1. |
In order to make up a potential shortfall in the savings required in 2013/14 or should this not be necessary to help offset potential funding cuts in 2014/15 |
2. |
In order to utilise underspend in theNon-TSG Land and Part 1 claims budget to reduce pressures, created by significant feasibility requirements, on Major Schemes Preliminary Design |
3. |
In order that Cabinet have properly had regard for the other crucial matters contained within the report |
ALTERNATIVE OPTIONS CONSIDERED |
To not agree the changes to the budget would not constitute good budget management. |
CONFLICTS OF INTEREST |
None. |
DISPENSATIONS GRANTED |
None. |
Supporting documents: