Decisions for issue Targeted Budget Management (TBM) 2012/13 Month 7

75.1         The Committee considered a report of the Director of Finance on the Targeted Budget Monitoring (TBM), a key component of the Council’s overall performance monitoring and control framework. The forecast outturn position was set out as of Month 7 on the Council’s revenue and capital budgets for the financial year 2012/13.

75.2         In response to a query from Councillor Wealls it as explained by the Director of Finance that the Dedicated Schools Grant savings were effectively a funding switch as some of the services that were funded through the General Fund could be done through the Schools Fund to meet the General Fund Savings target.

75.3         RESOLVED – That the Committee note the report to the Policy & Resources Committee on 29 November 2012 (Appendix 1).

(1)               That the forecast outturn position for the General Fund, which has an underspend of £3.534m be noted;

(2)               That the forecast outturn for the Housing Revenue Account (HRA), which has an underspend of £1.045m be noted;

(3)               That the forecast outturn position on the Capital Programme be noted;

(4)               That the following changes to the Capital Programme be approved:

(i)           The budget re-profiling and budget variations as set out in Appendix 2;

(ii)         The carry forward of slippage into the 2013/14 capital programme, to meet on-going commitments on these schemes as set out in Appendix 2;

(iii)       The new schemes as set out in Appendix 3; and

(5)               That it be agreed that Stagecoach South be paid a fixed price concessionary fares reimbursement of £495,000 for 2012/13 and for 2013/14 the sum of £495,000 plus the average increase in RPIX for the financial year 2012/13 for the reasons set out in paragraph 3.10 of the report.