Issue - meetings

CAPITAL AND REVENUE MONITORING REPORT 2014/15

 

 

Meeting: 24/11/2014 - City Council (Item 44)

44 Capital and Revenue Monitoring 2014/15 pdf icon PDF 36 KB

Cabinet Member: Councillor Lowry (Cabinet Member for Finance)

 

The City Council will be asked to approve the revised capital budget for 2014 – 2018 of £210.154 million.

 

The minute of Cabinet held on 11 November 2014 will be submitted together with the report considered at Cabinet.

Additional documents:

Minutes:

Councillor Lowry (Cabinet Member for Finance) presented the Capital and Revenue Monitoring Report 2014/15 (Cabinet minute 71 referred) and proposed the revised capital budget for 2014 – 2018 for approval.

  

Councillor Tuffin seconded the proposal.

 

Councillor Bowyer asked Councillor Lowry to consider a master plan for the next six months to address the budget gap and Councillor Lowry drew councillors’ attention to the action plan that was included within the Cabinet report.     

 

The report was noted.

 

Agreed the revised capital budget for 2014 – 18 of £210.154m.  

Meeting: 11/11/2014 - Cabinet (Item 71)

71 CAPITAL AND REVENUE MONITORING REPORT 2014/15 pdf icon PDF 334 KB

The Corporate Management Team will submit a report outlining the finance monitoring position of the Council as at the end of September 2014 and will provide details on how the Council is delivering against its financial measures using its capital and revenue resources.  The report will also seek approval of relevant budget variations, virements and the revised capital budget following the addition of new capital schemes and other movements for the quarter two period.

Additional documents:

Minutes:

The Corporate Management Team submitted a report outlining the finance monitoring position of the Council as at the end of September 2014 and provided details on how the Council was delivering against its financial measures using its capital and revenue resources. 

 

The report –

 

(a)

indicated that additional management solutions and escalated action to deliver further savings from the Council’s transformation programme were being worked up in order to address the in-year forecasted revenue overspend of £3.703m (as at September 2014);   

(b)

also sought approval of relevant budget variations, virements and the revised capital budget following the addition of new capital schemes and other movements for the quarter two period.

 

Councillor Lowry (Cabinet Member for Finance) introduced the report and highlighted the growing pressures in adult and children’s social care which needed to be addressed.  Cabinet Members were advised that these issues, it was hoped, would be addressed by the ambitious Integrated Health and WellBeing Programme.

 

David Northey (Head of Corporate Strategy) attended the meeting for this item. 

 

Alternative options considered and the reasons for the decision –

 

As set out in the report.

 

Agreed -

 

(1)

that thecurrentrevenuemonitoringpositionandactionplansin place to reduce/mitigate the position are noted;

(2)

thenon-delegatedrevenuebudgetvirementsassetout in Table 4 of the report;

(3) 

the movements to the approved Capital Programme are noted.