To receive budget monitoring information for Quarter 3 of 2014/15, and agree necessary changes to the Capital Programme.
Minutes:
Cabinet received a report detailing the budget monitoring position for Quarter 3 of 2014-15 for both revenue and capital budgets and including an update on key activity data.
The Cabinet Member for Finance and Procurement introduced the report and in particular he referred to the following:
Revenue Budget:
· Social Care, Health and Wellbeing presented a balanced overall position. Pressures remained in the areas of domiciliary care and as a result of the timing of realisation of transformation savings but these were offset by savings elsewhere, such as nursing and residential care.
· Growth Environment and Transport continued to experience waste tonnage increases but efforts in the area of waste disposal had created economies that had offset those pressures by more than 50%. Pressures remained on the Kent Freedom Pass and Young Persons Travel Card and on Home to School SEN Transport, the latter being partly offset by income from other authorities of £500,000 and reduced demand for other home to school transport.
Capital budget:
Andy Wood, Corporate Director of Finance and procurement spoke to the item. He clarified that the underlying position after roll forward requests was a £3m underspend against a total budget of nearly one billion. The news on the costs of unaccompanied minors seeking asylum was welcomed an would increase that underspend to approximately £4.5million but difficult negotiations would continue to seek clarity on the position for future years. Finally Mr Wood confirmed that there were reasons for concern within the indicative January and February figures and that he was confident that the underspend would be achieved.
Mr Carter reiterated the points made about the asylum budget; he welcomed the news from government but confirmed that negotiations would continue in respect of future years. He also reminded members that as a result of a motion put forward by Mr Truelove at County Council work was underway to identify road maintenance projects that may be funded from some of the underspend.
The Cabinet Member for Environment and Transport, Mr Matthew Balfour, spoke to the item. He reported to members that the increase in waste tonnage was largely a result of the improvement in the economic climate and congratulated Officers and his predecessor as Cabinet Member for Environment and Transport on the work done in other areas to partially address this. He welcomed the Leader’s comments regarding road maintenance and relished the opportunity to make improvements in that area.
CABINET Financial Monitoring Report – Quarter 3 23 March 2015 |
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1. |
That the report, including the latest monitoring position on both the revenue and capital budgets, be NOTED
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2. |
That the changes to the capital programme as detailed in the actions column in table 2 of the annex reports and summarised in Appendix 3, be AGREED. |
REASON |
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1. |
In order that Cabinet can effectively carry out monitoring requirements. |
2 |
In order that the budget accurately reflects the real time position and is fit for purpose enabling necessary actions to be taken. |
ALTERNATIVE OPTIONS CONSIDERED |
None. |
CONFLICTS OF INTEREST |
None. |
DISPENSATIONS GRANTED |
None. |
Supporting documents: