Issue - meetings

Report FSD15047

Members received a first budget monitoring report for 2015/16 based on expenditure and activity levels to the end of May 2015.

The Leader expected a forecast net overspend of £614k on 2015/16 portfolio budgets to be addressed and a balanced budget returned at year end.

RESOLVED that:

(1)  the latest financial position be noted;

(2)  a projected net overspend on services of £614k is forecast based on information as at May 2015;

(3)  comments from the Education, Care and Health Services Department, the Director of Transformation and Regeneration, and the Director of Environment and Community Services, as detailed at sections 3.2, 3.3 and 3.4 of Report FSD15047, be noted;

(4)  drawdown of £213k funding from Central Contingency related to the Flooding and Water Act 2010 (paragraph 3.5.2 of Report FSD15047) is requested in a report elsewhere on the agenda;

(5)  release of £326k from Central Contingency for the additional costs of Concessionary Fares as detailed at paragraph 3.5.3 of Report FSD15047 be agreed;

(6)  release of £60k from Central Contingency for the additional pension costs of LBB staff transferred to Liberata and The Landscape Group as detailed at paragraph 3.5.4 of Report FSD15047 be agreed;

(7)  the carry forwards requested for drawdown, as detailed at section 3.6 of Report FSD15047, be noted;

(8)  a projected reduction to the General Fund balance of £2.3m be noted as detailed at section 3.7 of Report FSD15047;

(9)  the full year costs pressures of £1.2m as detailed at section 3.8 of Report FSD15047 be noted.