Decision details

Including revenue, capital and treasury management.

Members considered a report which:

·                    identified the principal areas where there were likely to be departures from the approved 2017/18 budget and summarised the likely overall variation based on the information available to the end of August 2017. Members were also informed of progress that had been made with achieving savings and efficiencies.

·                    updated Members on progress with the capital programme and funding and brought the latest details for members’ approval;

·                    updated Members on the lending list for treasury management purposes.

The Finance Manager referred to the agenda report and answered questions as follows:

·         the changes on New Homes Bonus which introduced a baseline had had knock on budgetary affects which all Council’s had not been prepared for;

·         individual departments tended not to have reserves but had monies still earmarked for projects which had not yet been implemented, monies that were ring-fenced for specific spending, or monies which had been underspent in previous years; and

·         the Council was not currently borrowing any monies as yet;

The Head of Paid Service advised that Members could view details on Section 106 (S106) contributions and this would be provided in the Members Newsletter.  A group of officers met to review the allocation of S106 funds regularly.

The Portfolio Holder for Recreation & Leisure advised that the additional leisure income was a result of increased memberships.  He stated that the Leisure Strategy would likely be published before Christmas.

Resolved

(a)          That the revenue budget variations be approved;

(b)          That the updated capital programme be approved; and

(c)          That the updated lending list be noted.