Decision details

Consideration was given to the projected financial performance for the 2010/11 financial year at the three quarter review stage.  The report highlighted the key financial pressures faced by the Council, progress in mitigating action and measures to contain costs within the approved budget. In particular the report focussed upon area of high financial risk to the Council and included updates on the Capital Programme, Treasury Management, debt, and in-year collection rates for Council Tax and Business Rates.

RESOLVED

1.        That the following points, contained in Annex 1 of the report, be noted:

·        the updated forecast outturn position for the Council’s revenue budget at the third quarter stage of 2010-11, and the remedial actions detailed in Sections 2 and 3;

·        the potential impact on the Council’s general reserves position as detailed in Section 4;

·        the Treasury Management update detailed in Section 6;  

·        the Council’s in-year collection rates for Council Tax and Business Rates, detailed in Section 7;

·        the Council’s invoiced debt position as shown in Section 8;

·        progress to date on delivering the 2010-11 Capital Programme, detailed in Section 9 and Appendix 1;

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

·        Delegated Decisions to be approved by Directors in consultation withthe 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 Appendix 2b.

2.        That approval be given to the following:

·        Supplementary Revenue Estimates totalling £165,000 for the Places Directorate to be met from general reserves, in respect of the following items (Section 3.22 of Annex 1);

(a)              £100,000 in respect of the costs of the Covanta Planning Enquiry;

(b)              £40,000 to meet additional costs relating to the back log of planning applications at Macclesfield; 

(c)               £25,000 for consultancy support for the preparation of the “gypsy and travellers” planning application.

·        Supplementary Revenue Estimate of £864,000 for the Places Directorate in respect of Highways maintenance expenditure to be met from DCLG Winter Impact Grant  (Section 3.22 of Annex 1);

·        Reductions in approved capital budgets, as shown in Appendix 3a.

·        Deferrals in approved capital budgets, as shown in Appendix 3b.