Issue - meetings

To consider a report by Councillor Julian Thompson-Hill, Lead Member for Finance and Assets (copy enclosed) detailing the latest financial position and progress against the agreed budget strategy.

RESOLVED that Cabinet note the budgets set for 2014/15 and progress against the agreed budget strategy.

Councillor Julian Thompson-Hill presented the report detailing the latest financial position and progress against the agreed budget strategy.  He provided a summary of the Council’s financial position as follows –

·        a net under spend on the revenue budget of £158k was forecast for service and corporate budgets

·        savings of £7.1m were agreed as part of the budget and at this stage 90% had been achieved with 10% in progress

·        highlighted other key variances from budgets or savings targets relating to individual service areas, and

·        a general update on the Housing Revenue Account, Housing Capital Plan and the Capital Plan (including the Corporate Plan element).

Councillor Eryl Williams reported upon the WLGA Annual Education Minister’s meeting the previous week when the 21st Century Schools Programe had been discussed and the need to tackle surplus places highlighted.  Members noted many councils were finding it difficult to fund those projects and the Leader stressed the importance of continuing with the expectations set out in the Corporate Plan.  He was also pleased to note the positive progress on the major projects which had been detailed within the report.

RESOLVED that Cabinet note the budgets set for 2014/15 and progress against the agreed budget strategy.