Issue - meetings

Report from the Leader of Council

The Deputy Leader of the Council presented a report from the Leader informing Members of the Council’s financial position for the period April 2014 to June 2014 and providing a projection of the estimated outturn at the end of 2014/2015.

The report also provided Prudential Indicators in accordance with CIPFA’s Prudential Code.                                  

  In response to a question from Councillor D Bailey, the Deputy Leader highlighted that a large element of external funding came via the health sector, including provision from the Better Care Fund to integrate health and social care.

During discussion of this item, the Chair, Councillor Gartside, highlighted the historic over estimation of income from the Councils property portfolio. The Assistant Director of Resources and Regulation (Finance and Efficiency) highlighted that this issue was recognised in the 2013-14 budget and explained that the current variance on this issue was largely due to void levels, which, it was reported, are improving.

The Assistant Director also referred to two recent Cabinet reports outlining the Council’s new investment strategy and proposals for strategic management of the asset portfolio.

It was agreed:

1.     That the financial position of the Council as at 30 June 2014 be noted.

2.     That the s151 Officer’s assessment of the minimum level of balances be noted.

Report of the Leader of Council

The Leader of the Council submitted a report informing Members of the Council’s financial position for the period April 2014 to June 2014 and provided a projection of the estimated outturn at the end of 2014/2015.

The report also provided Prudential Indicators in accordance with CIPFA’s Prudential Code.

Delegated decisions:

1.  That the financial position of the Council as at 30 June 2014 be noted.

2.  That approval be given to the s151 Officer’s assessment of the minimum level of balances.

Reason for the decision:

The report has been prepared in accordance with the Council’s Financial Regulations relating to budget monitoring.

Other option considered and rejected:

To reject the recommendations.