Agenda item

B Report of Director of Finance and Support (Copy herewith)

1.      Cabinet noted the forecast position of £495k under spend for general fund (including debt financing) as at the end of October 2010.

2.      Cabinet noted the forecast position of £781k under spend for HRA fund (including recharges) as at the end of October 2010.

3.      Cabinet noted the Capital Programme monitoring position as at the end of October 2010 including forecast outturns, revenue expenditure funded by capital and slippage into 2010-11, and the related funding as set out at appendices 3a and 3b to the report.

4.      Cabinet noted the position reported on the key financial indicators reported at paragraphs 3.2.1 to 3.2.3 in the report.

5.      Cabinet approved the following variations to the capital programme 2010-11.

Councillor Mildren noted that there were still four outstanding audit issues in respect of Landscapes and that some savings in Environment Services would not be achieved although other, compensating, measures had been taken. He asked if this would impact on future years.

Councillor Clarke commented that the situation over the funding of the Cooper Street flats windows was still no clearer. He reminded Cabinet that £800,000 had been taken from the Cooper Street flats window replacement programme and vired to replace the heating systems at the Cooper Street flats. £400,000 had been spent on the heating systems and the £400,000 underspend then vired to disabled facilities grants rather than being placed back to the budget for the Cooper Street flats window replacement programme. However, this virement to the disabled facilities grants budget had not been spent, but it seemed to have disappeared. He asked where this money had gone.

Councillor Perkins, as the relevant Portfolio Holder, submitted a report that set out the overall financial position of the Council in respect of the General Fund and HRA revenue and capital, General Fund savings and efficiency targets, Treasury Management and Corporate Income Collection and Internal Audit recommendations. He noted the current projected underspends for the General Fund and the HRA and the variation to the Capital Programme to increase the Decent Homes Budget by £180,000. He commented that Savings and Efficiencies were the only issue affecting the Dashboard but that Management Board had taken action to deal with this. In respect of Treasury Management he noted that the IBS issue had now been rectified and that Council Tax collection, whilst just below target, was higher than at the same time the previous year. In respect of the Cooper Street flats window replacement programme, e-mails had been sent to Councillor Clarke explaining the situation, however if he required more information he only had to ask.

RESOLVED:    1.That he forecast position of £495k under spend for general  fund (including debt financing) as at the end of October 2010 be noted.That the forecast position of £781k under spend for HRA fund (including recharges) as at the end of October 2010 be noted.

                   3.  That the Capital Programme monitoring position as at the end of October 2010 be noted including forecast outturns, revenue expenditure funded by capital and slippage into 2010-11, and the related funding as set out at appendices 3a and 3b to the report.

4.      That the position reported on the key financial indicators reported at paragraphs 3.2.1 to 3.2.3 in the report be noted.

5.      That the following variations to the capital programme 2010-11 be approved: