Issue - meetings

The report of the Executive Manager – Finance and Corporate Services is attached.

It was RESOLVED that:

a) the projected revenue position for the year with a minor -2.48% variation (£285k) in the revenue position (mostly due to the expected business rates position and planning income); and

b) the capital underspend of £15.326m as a result of sums no longer required and planned programme slippage be noted.

The Portfolio Holder for Finance and Contracts presented the report of the Executive Manager – Finance and Corporate Services providing information to the Cabinet on the Council’s financial position at the end of the first quarter of the current year. He stated that the report had been discussed at the last Corporate Overview Group and no concerns were raised. The report currently predicts a £285,000 efficiency saving at the year-end but, at this early point of the year, this was liable to change. He drew Cabinet’s attention to the £22,000 adverse variance in relation to Edwalton Golf Courses and informed the group that this was in relation to the waiving of the management fee this year and that an update report would be brought to Cabinet in the future. He urged all Councillors to consider the £29m capital budget which demonstrated the scale of the Council’s ambition.

Councillor Inglis seconded the recommendation and stated that despite the fact that there were undoubtedly uncertain times ahead he felt confident that the hard work of the financial services team had put the Council in a positive position to deal with any unforeseen events in the future.

It was RESOLVED that:

a)    the projected revenue position for the year with a minor -2.48% variation (£285k) in the revenue position (mostly due to the expected business rates position and planning income); and

b)    the capital underspend of £15.326m as a result of sums no longer required and planned programme slippage be noted.

Reasons for Decision

To demonstrate good governance in terms of scrutinising the Council’s on-going financial position and compliance with Council Financial Regulations.