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 the latest financial position and progress against the agreed budget strategy be noted.

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

·        an under spend of £210k was forecast across service and corporate budgets with the forecast for schools being a positive movement on balances of £169k

·        £2.423m (70%) of agreed savings had been achieved with £995k (29%) being progressed and £25k (1%), relating to printer rationalisation, being deferred to next year

·        highlighted key variances from budgets or savings targets and details of individual service budgets

·        a general update on the Capital Plan and Housing Revenue Account.

Councillor Thompson-Hill clarified a number of issues arising from the report in response to members’ questions.  Councillor Hugh Evans stated that although the savings of individual services had been detailed it would be useful for future reports to denote the percentage of service savings in order to provide a clearer picture of services saving allocations.  Councillor Thompson-Hill advised that the percentage of savings over the last three years for individual services could be provided but it was important to provide some context to those figures.  Specific services targets had not been set to date and methodologies for future target setting were being considered.  Councillor Bobby Feeley highlighted that Adult Services was statutory and required to respond to a number of future pressures with cost implications attached.  The Chief Executive asked that further detail of the pressures in the Highways and Infrastructure budget be provided consistent with other service budgets.

RESOLVED that the latest financial position and progress against the agreed budget strategy be noted.