Agenda item

Noted:

(a)  That the provisional revenue outturn for 2014-15 was a break even position.  This was after allowing for a contribution of £224k to reserves.

(b)  That the provisional capital outturn was expenditure of £37.55m against the capital programme of £60.42m, with £22.0m reprofiled into the 2015-16 financial year.

(c)  That within the Council’s balanced scorecard, 66% of indicators were green, with the following ‘red’ indicators:

a.  % of Single Assessments completed and authorised within 45 working days (in month).

b.  Number of families placed in Bed and Breakfasts

c.  Number of Households in temporary accommodation including hostels

(d)  That all Gold projects had progressed overall as ‘amber’.

Approved:

(e)  The transfer of £112K to the Transformation fund and £112k to the Future Budget Requirement Fund reserve from the 2014/15 underspend.

(f)  The revised 2015-16 capital programme to take account of re-profiling of previously approved 2014-15 projects into the 2015-16 programme.

(g)  The revenue carry forwards included within the 2014/15 outturn.

(h)  The Virements and write-offs detailed within the report.

(i)  The start of the tendering process for the smoking cessation contract.

The Corporate Financial Controller introduced a report setting out the provisional financial outturn for 2014-15 and a summary of the Council’s performance against the balanced scorecard indicators and ‘Gold’ projects.

The provisional outturn was a breakeven position, even allowing for a contribution £224k to reserves, revised down from £277k as stated in the report.  This would be split evenly between the Transformation Fund and the Future Budget Requirement Fund.  The Cabinet approved this transfer to reserves to help mitigate the future impact of significant Government funding reductions.  In a challenging financial environment, the Council had successfully contained the financial pressures it had faced during the year and 96% of the £12.5m revenue savings had been achieved.

Capital programme spend had been 62% of the revised budget of £60.8m and the consequent re-profiling for 2015-16 was approved.  More intense capital monitoring would be a priority for 2015/16.  However, it was noted that the key capital project of the Curve remained on track to be completed within the agreed timescale.  Commissioners were concerned about the historic under-spend of capital budgets and asked what further measures were being taken.  It was responded that the Capital Strategy Board were working closely with departments across the Council to monitor projects and potentially bring forward other schemes when slippage in the programme was identified.

The latest performance data on the balanced scorecard indicators was noted.  66% of indicators had been rated ‘green’ with a particular improvement in the Council Tax collection rate which had achieved the annual target 96% and was now rated as ‘green’.  All ‘Gold’ projects as at 31^st March 2015 had an overall status of ‘amber’.

Commissioners discussed a number of issues including the impact of the outturn on the Medium Term Financial Strategy and the need to address financial control in over-spending service areas, particularly children’s services.  At the conclusion of the discussion, the Cabinet welcomed the break even position on the revenue budget and achievement of savings targets, particularly in view of both the rising demand for services and Government funding reductions.  The key information from the outturn was noted and Members approved recommendations (e) to (i) of the report which included transfers to reserves, re-profiling the capital programme, write off and virement requests and the procurement of the smoking cessation contract.

Resolved –

That the following key information from the Provisional Financial and Performance Outturn 2014-15 be noted:

(a)  That the provisional revenue outturn for 2014-15 was a break even position.  This was after allowing for a contribution of £224k to reserves.

(b)  That the provisional capital outturn was expenditure of £37.55m against the capital programme of £60.42m, with £22.0m re-profiled into the 2015-16 financial year.

(c)  That within the Council’s balanced scorecard, 66% of indicators were ‘green’, with the following ‘red’ indicators:

a.  % of Single Assessments completed and authorised within 45 working days (in month).

b.  Number of families placed in Bed and Breakfasts

c.  Number of Households in temporary accommodation including hostels

(d)  That all ‘Gold’ projects had progressed overall as ‘amber’.

That the following be approved:

(e)  The transfer of £112k to the Transformation fund and £112k to the Future Budget Requirement Fund reserve from the 2014/15 underspend.

(f)  The revised 2015-16 capital programme to take account of re-profiling of previously approved 2014-15 projects into the 2015-16 programme.

(g)  The revenue carry forwards included within the 2014/15 outturn.

(h)  The virements and write-offs detailed within the report.

(i)  The start of the tendering process for the smoking cessation contract.