Issue - meetings
BUDGET 2013/14
Meeting: 14/03/2013 - Audit and Governance Committee (Item 61)
61 2013/14 BUDGET (REVENUE AND CAPITAL) ALLOCATED TO CORPORATE PRIORITIES 
PDF 244 KB
The Committee to note the report that went to Cabinet on 12 February 2013 and Full Council on 25 February 2013.
Additional documents:
Minutes:
The Head of Finance provided the Committee with the full budget update report that went to Cabinet for approval on 12 February 2013.
Agreed that -
1. the Committee note the Treasury management section of the 2013/14 Budget (Revenue and Capital) Allocated to Corporate Priorities as approved at the Audit Sub-committee on 23 January 2013.
2. an Audit Sub-committee to be arranged for January 2014 to agree the Treasury Management Report prior to approval at Cabinet.
Meeting: 12/02/2013 - Cabinet (Item 143)
143 2013/14 BUDGET (REVENUE AND CAPITAL) ALLOCATED TO CORPORATE PRIORITIES PDF 244 KB
The Director for Corporate Services will submit a written report on the 2013/14 budget (revenue and capital) allocated to corporate priorities, which builds on the indicative budget agreed by Cabinet on 11 December 2012 and the impact of the December settlement on the revenue assumptions.
The report will also include the Treasury Management Strategy and how the management function contributes to the Council’s overall policy objectives.
Cabinet will be asked to make recommendations to the City Council on 25 February 2013.
Background papers to this report can be accessed at the Council’s website Council and Democracy/Councillors and Committees/Library/Cabinet background papers or using the following hyperlink -
Additional documents:
Minutes:
The Director for Corporate Services submitted a written report indicating that -
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(a) |
the report built on the Indicative Budget signed off by Cabinet on 11 December 2012 and the impact of the December settlement on the revenue assumptions. At the time of publishing the December Indicative Budget report, the council was still awaiting notification of its Government settlement for 2013/14 along with details of any significant changes anticipated to specific grants; |
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(b) |
the settlement was broadly in line with the officer’s predictions and therefore it was not necessary to make major adjustments to the original budget assumptions. However, the net revenue resources had “increased” from the original report due to the government rolling specific service grants into the core funding;
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(c)
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settlement figures quoted in this report were still subject to final approval by the Government and the decision was expected in early February 2013; |
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(d)
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the Treasury Management Strategy, Appendix C of the report, outlined the council’s strategy and the inherent risks within the treasury management function. It also outlined how the management function contributed to the council’s overall policy objectives. |
Councillor Lowry (Cabinet Member for Finance) presented the report and advised Cabinet Members that -
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a press release would be made following consideration of the item;
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(f)
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he would like to thank the Finance Team for their work, including Adam Broome (Director for Corporate Services), Malcolm Coe (Assistant Director for Finance, Efficiencies, Technology and Assets), David Northey (Head of Finance), Chris Randall (Strategic Finance Manager) and Simon Arthurs (Strategic Finance Manager). |
The Chair thanked Councillor Lowry for his work with Cabinet Members and to all the staff involved with the budget.
Alternative options considered and reasons for the decision –
As set out in the report.
Agreed that a final version of the Revenue and Capital Budget for 2013/14 is presented for sign off to the City Council on 25 February 2013.
(See also minute 143a below)