Revenue and Capital Budget Monitoring 2019/20 Report 2
Decision Maker: Executive Cabinet
Decision status: Recommendations approved
Is Key decision?: Yes
Is subject to call in?: No
The Executive Member (Resources), Councillor Peter Wilson, presented the report of the Chief Finance Officer.
The Council’s Medium-Term Financial Strategy reported that working balances are currently maintained at £4.0m due to the financial risks facing the Council. After the contribution to the Shared Services reserve of £90k from in-year underspends, the forecast level of balances at 31 March 2020 will be £4.0m. It should be noted however that there may be further call for the use of general balances throughout 2019/20.
In the 2019/20 budget the expected net income from Market Walk after deducting financing costs is £1.046m. There is currently one vacant unit within Mark Walk.
The Leader of the Opposition, Councillor Martin Boardman, queried the loss of income in relation from vacant properties reported as £70k. The details will be forwarded following the meeting.
The Leader of the Opposition, Councillor Martin Boardman, noted the fall in income levels for Building Control fees and staffing shortages within the team. The Executive Member (Public Protection), Councillor Alistair Morwood, reported that two members of staff have been recruited and are undertaking the necessary training to bring their existing qualifications up to date. Further details will be provided following the meeting.
The Executive Member (Resources), Councillor Peter Wilson proposed and the Executive Leader, Councillor Alistair Bradley seconded the unanimous Decision – that approval be given to the following:
1. To note that Executive Cabinet noted the full year forecast position for the 2019/20 revenue budget and capital investment programme.
2. To note that Executive Cabinet noted the forecast position on the Council's reserves.
3. To approve the capital programme to be delivered in 2019/20 to 2021/22 and to approve that the remaining £105k Recreation Pitch Strategy will be re-invested to enhance play areas and fund environmental improvements. £170k was set aside as part of the 2015/16 budget to support the Play, Open Space and Playing Pitch Strategy. To date £65k has been provided to Cuerden Valley Visitor Centre.
Report author: James Thomson
Publication date: 31/01/2021
Date of decision: 21/01/2020
Decided at meeting: 21/01/2020 - Council