A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Council and councillors

Decision details

QUARTER 1 FINANCE UPDATE

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Decisions:

(KEY DECISION)

 

Report No. 147/2017 from the Director for Resources was received.

 

Mr Della Rocca, Assistant Director - Finance, introduced the report, the purpose of which was to inform Cabinet and all Members of the full year forecast position as at Quarter 1 for 2017/18 and to highlight issues that may impact on the Medium Term Financial Plan to enable them to maintain sound financial management of the Council’s operations.

 

During discussion the following points were raised:

 

  1. The report was significantly shorter that previous Quarter 1 reports as the intention was now to present a summary at Quarter 1, full and comprehensive reports would continue to be presented for Quarters 2 and 4.
  2. The Council was on track to achieve its budget, however, it is experiencing, as are many other local authorities, financial pressures within the Fostering and Adoption teams and Children’s Services. These pressures are being monitored.
  3. Efforts are being made to manage pressures as far as possible but some are outside the control of the Council.
  4. Current national media reporting referred to disinvestment in Childrens Social Care and Early Help budgets. The Council had worked hard to protect these budgets with additional investment in the Childrens Centre in Oakham. This would put the Council in a good position going forward.

 

DECISION

 

1.    Cabinet NOTED the 2017/18 revenue and capital outturn position as at Quarter 1.

 

2.    Cabinet APPROVED the use of £150k from the Adult Social Care Contingency and £114k Social Care earmarked reserve as requested in para 2.2.2 of Report No. 147/2017.

 

3.    Cabinet NOTED the increased in Non Ringfenced grants of £13k as detailed in para 2.2.2 of Report No. 147/2017.

 

4.    Cabinet NOTED the Council had submitted a bid to the National Productivity Investment Fund for 2018/19 and 2019/20 to support the Town Centre Development (para 2.4.2).

 

Reason for Decision

1.    The Council was required to make savings over the medium term, the Quarter 1 position was positive as, despite a number of significant variances, the forecast was broadly in line with budget.

 

 

 

Publication date: 18/08/2017

Date of decision: 15/08/2017

Decided at meeting: 15/08/2017 - Cabinet

Effective from: 23/08/2017