Issue - meetings

To consider the attached report of the Chief Executive, agreed at Executive Cabinet on 27 August 2015.

Members considered a report of the Chief Executive on the provisional revenue and capital outturn figures for the Council as compared against the budgets and efficiency savings targets set for the financial year 2015/16. The report had been agreed at Executive Cabinet in August but a number of the recommendations required Council approval.

The projected revenue outturn currently showed a forecast underspend of £444,000 against the budget, including savings made in Market Walk financing costs. The report sought approval to the use of the forecasted underspend for service improvements and also a contribution to general balances.

In response to a question from Councillor Paul Leadbetter, on the use of underspend on the NEETs programme, being utilised in the youth sector, Councillor Wilson said it was a question of re-profiling spending to meet current needs.

Councillor Peter Wilson, Executive Member for Resources proposed, Councillor Alistair Bradley, Executive Leader seconded and it was

RESOLVED – that 

1.    Approval be given to £100,000 from in-year revenue underspends being set aside to fund one-off capital payments to secure recurrent revenue savings on ICT contracts.

2.    Approval be given to the use of £39,000 held in reserves for the former NEETs programme to invest in the Town Centre Grants Programme and a further sum of £61,000 be funded from in-year savings.

3.    Approval be given to the use of £36,000 from in-year revenue underspends for capital investment in Christmas lighting for the town centre and Market Walk.

4.    Approval be given to the Single Front Office Apprenticeships scheme at an estimated cost of £56,000 for two years, and that the unspent budget at 2015/16 year-end be carried forward in an earmarked reserve; and

5.    Approval be given to the proposed additions and re-profiling of the Capital Programme to better reflect delivery in 2015/16. This requires £166,000 revenue financing of the CCTV Programme to be brought forward from 2016/17 and 2017/18, to be financed from a reserve earmarked for capital financing. In addition the budget for revenue financing of CCTV should be increased by £85,000, to be met from the forecast underspend.

Report of Chief Executive.

1.         Approval granted that the full year forecast position for the 2015/16 revenue budget and capital investment programme be noted.

2.         Approval granted that the forecast position on the Council's reserves be noted.

3.         Request Council approve the set aside of £100,000 from in-year revenue underspends to fund one-off capital payments to secure recurrent revenue savings on ICT contracts.

4.         Request Council approve the use of £39,000 held in reserves for the former NEETs programme to invest in the Town Centre Grants Programme and a further sum of £61,000 be funded from in-year savings.

5.         Request Council approve the use of £36,000 from in-year revenue underspends for capital investment in Christmas lighting for the town centre and Market Walk.

6.         Request Council approve the Single Front Office Apprenticeships at an estimated cost of £56,000 for two years, and that the unspent budget at 2015/16 year-end be carried forward in an earmarked reserve.

7.         Request Council approve the proposed additions and re-profiling of the Capital Programme to better reflect delivery in 2015/16. This requires £166,000 revenue financing of the CCTV Programme to be brought forward from 2016/17 and 2017/18, which would be financed from a reserve earmarked for capital financing. In addition it is recommended that the budget for revenue financing of CCTV should be increased by £85,000, to be met from the forecast underspend.

The report of the Chief Executive was presented by the Executive Member (Resources), Councillor Peter Wilson. The report set out the provisional revenue and capital outturn figures for the Council as compared against the budgets and efficiency savings targets set for the financial year 2015/16.

The projected revenue outturn currently showed a forecast underspend of £444,000 against budget (including savings made in Market Walk financing costs).  The report proposed that Council should approve the use of most of the forecast overspend for the funding of service improvements, £106,000 would be added to General Balances if all proposals were approved.

The Council’s Medium Term Financial Strategy proposed that working balances should reach £3.0m over the 3 year lifespan of the MTFS to 2017/18 due to the financial risks facing the Council. This was an increase from previous years’ strategies and had been set to match the total budget deficit currently forecast for 2017/18.  A budgeted contribution into General Balances of £350k was contained within the new investment package for 2015/16.  The current forecast to the end of June showed that the General Fund balance could be around £2.744m by the end of the financial year, after adding the £106,000 underspend.

Decision:

1.  Approval granted that the full year forecast position for the 2015/16 revenue budget and capital investment programme be noted.

2.  Approval granted that the forecast position on the Council's reserves be noted.

3.  Request Council approve the set aside of £100,000 from in-year revenue underspends to fund one-off capital payments to secure recurrent revenue savings on ICT contracts.

4.  Request Council approve the use of £39,000 held in reserves for the former NEETs programme to invest in the Town Centre Grants Programme and a further sum of £61,000 be funded from in-year savings.

5.  Request Council approve the use of £36,000 from in-year revenue underspends for capital investment in Christmas lighting for the town centre and Market Walk.

6.  Request Council approve the Single Front Office Apprenticeships at an estimated cost of £56,000 for two years, and that the unspent budget at 2015/16 year-end be carried forward in an earmarked reserve.

7.  Request Council approve the proposed additions and re-profiling of the Capital Programme to better reflect delivery in 2015/16. This requires £166,000 revenue financing of the CCTV Programme to be brought forward from 2016/17 and 2017/18, which would be financed from a reserve earmarked for capital financing. In addition it is recommended that the budget for revenue financing of CCTV should be increased by £85,000, to be met from the forecast underspend.

Reasons for recommendation(s)

To ensure the Council’s budgetary targets are achieved.

Alternative option(s) considered and rejected

None.