Issue - meetings

Cllr Dick Tonge presented a report which advised Cabinet of the revenue budget monitoring position as at the end of period 7 (end of October 2013) for the financial year 2013/2014 with suggested actions as appropriate.

The projected year end position for the relevant accounts was reported as set out as follows:

As usual finance officers and budget managers were monitoring budgets and taking appropriate action as necessary. It was noted that the report identified potential cost pressures of £5.684 million, however savings of £3.568 million had been identified leaving £2.116 million to be found including use of reserves and partnership funding where possible. It was noted that concerns over the council tax collection rate given the impact of council tax changes were unfounded.

Cllr Roy While, Chairman of the Budget Scrutiny Task Group addressed the Committee and raised concern over the draw on reserves. He asked for the pressure areas to be referred to select committee chairmen.

The Leader identified the £11 million outstanding debt as an area of concern and asked officers to challenge harder and stronger to get the percentage down. The Associate Director, Finance explained that whilst the Council paid its bills promptly, this was not being reciprocated by some debtors. Future reports would include information on the timeline of debts to the Council.

Resolved:

That Cabinet note the outcome of the period 7 (end of October) budget monitoring.

Reason for decision:

To inform effective decision making and ensure a sound financial environment.