Consideration was given to the Council’s
mid year financial position in 2009 – 2010. The report focussed on areas of high financial
risk to the Council and included updates on treasury management,
the capital programme, in-year collection rates for council tax and
business rates, and an update on the reserves strategy.
RESOLVED
For the reasons set out in the report: -
1. That
the following points be noted: -
- the pressures on the Council’s
revenue budget in the second quarter of 2009-10, detailed in
Section 11 and Appendix 1 of the report and the proposed remedial
action;
- the positions on Adults
Transformation Funding and Learning Disability Pooled Budget
detailed in Section 11.2 of the report;
- the Treasury Management update
detailed in Section 12 of the report;
- the Council’s in-year
collection rates for Council Tax and Business Rates, detailed in
Section 13 of the report;
- progress to date on
delivering the 2009-10 capital programme, detailed in Section 14
and Appendix 3 of the report;
- Delegated Decisions
approved by Directors, as shown in Appendix 2b 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 (SCE) and virement requests
over £100,000 and up to and including £500,000 as shown
in Appendix 2a of the report;
- the updated Reserves position detailed in
Section 15 and Appendix 4 of the report.
2. That approval be given to the following:
-
- a virement devolving
£900,000 from the Dedicated Schools Grant uncommitted funds
of £1.528m, allocating £85,000 to DSG centrally
supported activity, retaining £543,000 within a central
contingency, as set out in Section 11.2 of the report;
- a Supplementary Revenue Estimate of
£84,500 for preparatory works on the Tatton Park Biennial
funded by external contributions as set out in Section 11.3
of the report;
- a Supplementary Revenue Estimate of
£170,000 for a Housing Stock Condition Survey funded from the
LPSA Target 11 Reward Grant, as set out in Section 11.3
of the report;
- the revised in-year capital budget
for 2009-10 as set out in Section 14 of the
report, including;
- Supplementary Capital
Estimates (SCE)/Virements over £500,000 and up to and
including £1.0m, as shown in Appendix 2a of the
report;
- Reductions in
approved budgets, as shown in Appendix 2c of the
report.
3.
That Council be recommended to approve the
following SCE and Virement requests over £1.0m, those which
require funding from later years and
those funded from reserves, as detailed in Appendix 2a of the
report:-
- Christ the King
Catholic & C of E Primary School
£3,039,000
- Stapely Broad Lane
Primary School
£906,000
- Offley Primary School
£845,000
- Energy Efficiency
– Invest to Save
£75,000
4. That Council be
recommended to approve the use of General Reserves to fund the
following items as detailed in Section 15 of the
report:-
(a) £75,000 in 2009-10 for energy
efficiency measures to reduce Carbon Emissions.
(b) Round 2 Voluntary Redundancy costs of up to
£5m, together with the additional future payment of actuarial
costs.
5. That
Council be recommended to approve the use of General Reserves to
create the following new earmarked reserves as detailed in Section
15 of the report: -
(a) Invest-to-Save Projects (£2m)
(b) Enabling Local Working (£625,000)