Issue - meetings

(a)       That the Revenue Budget Monitoring 2015/16 (Month 11) report be received; and

(b)       That the Committee confirms that it is not making any formal recommendations to Cabinet on this occasion. 

The Finance Manager – Strategy Accounting and Systems introduced a report to provide Members with the Revenue Budget Monitoring 2015/16 (Month 11) report for the Council Fund and Housing Revenue Account (HRA) which was to be submitted to Cabinet on 17 May 2016. 

                        For the Council Fund, the projected net in-year expenditure was forecast to be £1.574m lower than budget which was a positive move of £0.464m from Month 10.  Appendix 1 detailed the movements from Month 10 which were across all portfolios. 

                        Appendix 3 provided details of the latest position of the programme of efficiencies and it was projected that £10.623m (83%) would be achieved resulting in a net underachievement of £2.251m; this had already been reflected in the outturn.  It was reported that £0.125m for food and pay inflation was no longer required.  Taking into account previous allocations and the current underspend at Month 11, the balance on the Contingency Reserve at 31 March 2016 was projected to be £5.210m.  The previous allocation for investment in organisational change was now fully committed therefore it was recommended that £0.750m was set aside to renew investment to save funds to support future organisational change; if approved this would reduce the balance on contingency reserve to £4.460m.  Details of carry forward requests were included in appendix 6 and were recommended for approval by Cabinet. 

                        The Month 11 Monitoring report for the HRA was projecting in year expenditure to be £0.092m lower than budget and a projected closing balance as at 31 March 2016 of £1.330m which at 4.3% of total expenditure satisfied the prudent approach of ensuring a minimum level of 3%.       

                        Councillor Richard Jones sought clarification on the future organisational change projects that would be supported by the £0.750m set aside to renew the invest to save funds.  The Chief Executive explained that the funds could be used for a variety of areas and that bids would need to be made for the funding, supported by a business case.  Councillor Jones referred to a number of departments where he felt that staffing had been reduced which could have an impact on the service.  The Chief Executive spoke about resilience within services.  

                        In referring to the volatility of the recycling market, Councillor Paul Shotton asked whether it was anticipated that there would be an improvement in the future.  The Chief Executive said that an up-turn in rates for the sale value of recyclable goods such as glass and plastic was not expected. 

                        Councillor Arnold Woolley expressed concern about the growing number of items that were being carried forward and queried whether this was as a result of reducing the workforce.  He suggested that it would be helpful for Members to have information on the number of items carried forward and their value for the same time in 2015/16 and 2016/17 so that Members could compare the details.  The Finance Manager – Strategy Accounting and Systems advised that there had not been an increase in the number of items being proposed to  ...  view the full minutes text for item 9