Issue - items at meetings - Targeted Budget Management (TBM) Month 2

37.1

The Cabinet considered a report of the Director of Finance & Resources concerning the forecast outturn position on the revenue and capital budgets as at the end of May 2008 (Month 2) (for copy see minute book).

37.2

Following a request to speak the Chairman invited Councillor Hamilton to address the meeting. Councillor Hamilton raised a number of concerns and issues, reflected in the responses as detailed below.

37.3

In response to questions and comments from Councillor Hamilton, Councillor Caulfield noted concerns in respect of the Housing Revenue Account and the potential impact on meeting the Decent Homes Standard. She explained that issues concerning this would be contained in the Housing Green Paper report prepared for the Housing Management Consultative Committee and Housing Cabinet Member Meeting. It was also the case that the re-tendering of some repairs contracts should achieve major savings.

37.4

Councillor Kemble, responding to points made by Councillor Hamilton in respect of potential savings from insurance monies and un-allocated LAGBI funding, commented that this potential opportunity for savings would be considered.

37.5

Councillor Norman, noting Councillor Hamiltons’ point about an overspend from the Adult Social Care budget was confident that the budget would be balanced at the end of the financial year.

37.6

RESOLVED – Having considered the information and the reasons set out in the report, the Cabinet accepted the following recommendations:

(1) That the forecast outturn for the General Fund, Section 75 Partnerships and Housing Revenue Account (HRA) for 2008/09 as at month 2 be noted.

(2) That Directorates with forecast overspends will develop financial recovery plans, which will be included in the next report to Cabinet (Month 6 – September).

(3) That a contribution of £0.300 million to Contingency from the saving on the Insurance contract renewal be agreed.

(4) That a contribution of £0.150 million to the Risk Management Reserve, also from the saving on the Insurance contract renewal, be agreed.

(5) That the forecast outturn position on the capital budgets as at month 2 be noted.

(6) That the new capital schemes as set in Appendix 4 of the report be approved.

(7) That the capital budget changes as set out in 3.14 and 3.15 and the budget re-profile as set out in Appendix 5 of the report be approved.