Issue - items at meetings - Targeted Budget Management (TBM) Provisional Outturn 2010/11

Report of the Director of Finance (copy attached).

(1)         That Cabinet notes the provisional outturn position for the General Fund, which is an underspend of £2.560m.

(2)         That Cabinet notes the provisional outturn for the Section 75 Partnerships and Housing Revenue Account (HRA) for 2010/11.

(3)         That the Cabinet approve the carry forwards as detailed in Appendix 3.

(4)         That the Cabinet note the provisional outturn position on the capital programme.

(5)         That the Cabinet approve the following changes to the capital programme:

i)    The budget reprofiling as set out in Appendix 4;

ii)   The carry forward of slippage into the 2010/11 capital programme, to meet on-going commitments on these schemes as set out in Appendix 5.

15.1         The Cabinet considered a report of the Director of Finance concerning the council’s provisional outturn position (Month 12) on the revenue and capital budgets for the financial year 2010/11.

15.2         Councillor Kitcat advised that the new Administration was committed to achieving value for money for the city’s residents despite the cuts imposed on the council by central Government. He thanked the officers responsible for looking after the council’s finances for their ongoing vigilance.

15.3         Councillor Theobald stated that the previous Administration had left the council with a significant underspend, regardless of the challenging financial circumstances and cuts to budgets, through a programme of careful financial management.

15.4         Councillor Mitchell noted the large overspend in the Communications budget and the underspend in the Housing Revenue Account repairs budget, despite demand for repairs and maintenance across the city.

15.5         Councillor Kitcat explained that the Communications overspend was due to the presentation of the accounts. The repairs underspend was based on predictions rather than real figures; now that the new repairs and maintenance contract was in operation, the figures had been reworked and would be reported as part of the next TBM report.

15.6         The Chair reported that he had prepared a letter to the Secretary of State for Communities and Local Government, Eric Pickles MP, and that he would be requesting a meeting to discuss the council’s financial settlement and other important matters.

15.7         In response to questions from Councillor Theobald, the Director of Finance explained that slippage relating to car parks was due to ongoing works on The Lanes Car Park. She advised that more work was required on the business case before the report on ‘Investment in City Infrastructure – Car Park Improvement – Phase II’ could be considered by the Cabinet; it was anticipated that it would come to the next meeting in July.

15.8         RESOLVED - That, having considered the information and the reasons set out in the report, the Cabinet accepted the following recommendations:

(1)         That the provisional outturn position for the General Fund, which is an underspend of £2.560m, be noted.

(2)         That the provisional outturn for the Section 75 Partnerships and Housing Revenue Account (HRA) for 2010/11 be noted.

(3)         That the carry forwards as detailed in Appendix 3 be approved.

(4)         That the provisional outturn position on the capital programme be noted.

(5)         That the following changes to the capital programme be approved:

i)    The budget reprofiling as set out in Appendix 4;

ii)   The carry forward of slippage into the 2010/11 capital programme, to meet on-going commitments on these schemes as set out in Appendix 5.