Agenda item

That having considered and commented on the Revenue Budget Monitoring 2015/16 (Month 4) and Capital Programme 2015/16 (Month 4), the Committee confirmed that it did not have any specific matters that it needed to refer to Cabinet at its meeting on 13^th October 2015.   

Revenue Budget Monitoring 2015/16 (Month 4)

                        The Corporate Finance Manager introduced a report to provide Members with the Revenue Budget Monitoring 2015/16 (Month 4) for the Council Fund and Housing Revenue Account (HRA) which was to be submitted to Cabinet on 13 October 2015. 

                        For the Council Fund, the projected net in-year expenditure was forecast to be £0.425m higher than budget which was an increase of £0.637m on the underspend at Month 3.  Appendix 1 detailed the movements from Month 3 which included domiciliary care and additional running costs of the Euticals site.  At the previous meeting, Members had sought clarification on the variances within the Streetscene & Transportation directorate and the Corporate Finance Manager indicated that this information had been circulated to Members the previous day.  Appendix 3 provided details of the latest position of the programme of efficiencies and it was projected that £10.878m (84%) would be achieved resulting in a net underachievement of £1.996m.  There had been no change since Month 3 to the amounts held for inflation and the full details of the amounts held were reported in paragraphs 1.10 to 1.12.  Taking into account the current overspend at Month 4, the balance on the contingency reserve at 31 March 2016 was projected to be £4.111m.  A new section had been included on Earmarked Reserves to provide a greater understanding of reserves held and the Corporate Finance Manager explained that a reserves protocol had been considered by the Audit Committee and approved by County Council on 24 September 2015. 

                        The Month 4 monitoring report for the HRA was projecting in year expenditure to be £0.002m higher than budget and a projected closing balance as at 31 March 2016 of £1.235m, which at 4% of total expenditure satisfied the prudent approach of ensuring a minimum level of 3%.    

                        In response to a query from Councillor Robin Guest on Earmarked Reserves, the Corporate Finance Manager explained that reserves had been undertaken in the previous two budget rounds which had identified £3.5m and £1m had been identified for 2015/16.  Some of this reserve had been used to fund one-off costs in the current year. 

                        Councillor Arnold Woolley sought clarification on the underachievement of efficiencies of £1.996m and the Corporate Finance Manager advised that it was anticipated that the efficiencies would be achieved in 2016/17.         

                        Following a query from Councillor Carolyn Thomas on admin vacant posts, the Corporate Finance Manager advised that the savings were now shown under the specific portfolio area.       

            Capital Programme 2015/16 (Month 4)

                        The Corporate Finance Manager introduced the report to provide Members with the Capital Programme Monitoring 2015/16 (Month 4) which was also to be submitted to Cabinet on 13 October 2015. 

                        The Capital Programme had increased by £75.438m in the period, mainly due to the HRA Subsidy Buyout which was made in the early part of 2015/16.  There had also been a rollover of £5.767m from 2014/15, additional grant funding of £4.223m and £0.500m for Community Asset Transfers.  These increases had been offset by a decrease in funding required for 21^st Century schools and savings in the allocation to Flintshire Connects projects.  The revised programme was reported in table 1 and showed the programme total as £146.997m and table 2 highlighted the changes during this period.  A rollover of £0.345m had been identified and the cost of the required works would be reflected in the programme for 2016/17, if approved by Cabinet on 13 October 2015.  Table 5 showed the financing resources and table 6 reported the funding of approved schemes and was projecting a surplus of £1.026m to 2016/17. 

                        Councillor Marion Bateman requested further information on recycling sale costs, in particular details of tonnages and price fluctuation and whether any trends over the previous two years could be identified. 

RESOLVED:

That having considered and commented on the Revenue Budget Monitoring 2015/16 (Month 4) and Capital Programme 2015/16 (Month 4), the Committee confirmed that it did not have any specific matters that it needed to refer to Cabinet at its meeting on 13^th October 2015.