Decision details

Consideration was given to the financial and non financial performance of the Council during the first quarter of 2011/12.  The report included an update on the Councils overall financial stability, projections of financial performance for each service for the current financial year, a summary of key performance headlines to date, and an explanation of the key points emerging.

RESOLVED

1. That the following financial issues be noted:

·        the overall financial stability of the Council, including Grants, in-year collection rates for Council Tax and Business Rates, Treasury Management, and centrally held budgets detailed in Annex 1 of the report;

·        the impact on the Council’s general reserves position detailed in Annex 1 of the report;

·        the forecast service revenue and capital outturn positions detailed on Annex 2 of the report;

·        the Council’s invoiced debt position as shown in Annex 2 of the report; 

·        progress on delivering the 2011-12 capital programme, detailed in Annex 2  and Appendix 1 of the report;

·        Delegated Decisions approved by Directors for Supplementary Capital Estimates (SCE) and virement requests up to £100,000 as shown in  Annex 2 Appendix 2a of the report;

·        Delegated Decisions approved by Directors in consultation with the relevant Portfolio Holder and the Portfolio Holder for Resources for Supplementary Capital Estimates and virement requests over £100,000 and up to and including £500,000 as shown in Annex 2 Appendix 2b of the report.

2. That the service performance issues, contained in Annex 3 of the report, and the successes achieved during the first quarter of 2011/12 be noted and issues raised in relation to underperformance against targets be addressed.    

3. That approval be given to :

·        the retention of £0.4m of earmarked reserves previously identified for return to general balances;

·        a Supplementary Revenue Estimate of £3.0m to create a central contingency from additional non-ringfenced grant funding, to be the subject of bids from services detailed in Annex 1 of the report;

·        Supplementary Revenue Estimates for services of £2.2m to be met from the central grants contingency, detailed in Annex 2 of the report;

·        Capital virement requests over £500,000 and up to and including £1.0m, as shown in Annex 2 Appendix 2c of the report.