Agenda item

(a)  That the provisional revenue outturn for 2013-14 of a break even position be noted.  This was after allowing for a contribution of £150k to a future budget requirement reserve.

(b)  That the provisional capital outturn of expenditure of £33.3m against the capital programme of £51.6m be noted, with £16.7m reprofiled into the 2014-15 financial year.

(c)  That it be noted that within the Council’s balanced scorecard, 71% of indicators were green, with the following ‘red’ indicators:

  i.  % of Initial Assessments completed and authorised within 45 working days (in month) in Children’s services.

  ii.  Council Tax collection rate

  iii.  Number of Households in temporary accommodation

(d)  That it be noted that 17% of Gold projects had progressed overall as ‘green’.  Of the six submitted highlighted reports, one had been assessed to have an overall status of Green, three at Amber and two at Red.

(e)  That the revised 2014-15 capital programme be approved to take account of re-profiling of previously approved 2013-14 projects into the 2014-15 programme; with a revised capital programme of £63.6m.

(f)  That the Virements and write-offs be approved as detailed in the report.

The Assistant Director Finance & Audit introduced a report providing Members with the provisional financial outturn for 2013-14 and summarised the Council’s progress against key performance indicators during the financial year.

Members were informed that the Council had achieved a break even position, allowing for a contribution of £150k to a future budget requirement reserve.  This was despite further reduction in central Government funding and a below inflation Council Tax rise.  The Assistant Director highlighted the significant areas of deviation from budget, for example in Children’s Social Care, and commented that these in year pressures had been managed.  It was noted that the capital outturn was expenditure of £33.3m against a budget of £51.6m with the remainder being re-profiled in 2014-15.  The Cabinet also reviewed the Council’s performance indicators and Gold Project reports for the year.  In relation to the indicator for the number of households in temporary accommodation, it was noted that none of the placements were in Bed & Breakfasts.

The Cabinet welcomed the breakeven position, especially in view of the financial challenges local authorities were facing.  It was recognised that the Council’s financial model was substantially changing with reductions in central Government spending continuing and increased volatility in income due to the Council bearing greater risk or reward from business rates.  Commissioners recognised that future reductions would be significant, particularly in 2015-16, and the outturn achieved during the year provided a solid base for future financial planning.

At the conclusion of the discussion, the Cabinet noted the report and approve the re-profiling of the capital programme, virements and write offs as detailed in the report.

Resolved –

(a)  That the provisional revenue outturn for 2013-14 of a break even position be noted.  This was after allowing for a contribution of £150k to a future budget requirement reserve.

(b)  That the provisional capital outturn of expenditure of £33.3m against the capital programme of £51.6m be noted, with £16.7m re-profiled into the 2014-15 financial year.

(c)  That it be noted that within the Council’s balanced scorecard, 71% of indicators were green, with the following ‘red’ indicators:

  i.  % of Initial Assessments completed and authorised within 45 working days (in month) in Children’s services.

  ii.  Council Tax collection rate

  iii.  Number of Households in temporary accommodation

(d)  That it be noted that 17% of Gold projects had progressed overall as ‘green’.  Of the six submitted highlighted reports, one had been assessed to have an overall status of Green, three at Amber and two at Red.

(e)  That the revised 2014-15 capital programme be approved to take account of re-profiling of previously approved 2013-14 projects into the 2014-15 programme; with a revised capital programme of £63.6m.

(f)  That the Virements and write-offs be approved as detailed in the report.

(Councillor Sharif rejoined the meeting)