Issue - meetings

Report of the Head of Corporate Resources

The Cabinet considered the report of the Head of Corporate Resources informing the Cabinet of: -

1.       The current forecast revenue outturn position for the Council for 2019/20;

2.       The current forecast on Council Tax and Business Rates collection for 2019/20; and,

3.       The monitoring position of the Council’s capital programme to the end of July 2019, the forecast expenditure to year end, variations against the approved budgets and an explanation of those variations for consideration by Members. Updates to spending profiles and proposed amendments to capital budgets necessary to ensure the efficient delivery of capital projects are also presented for approval.

Decision Made:      That

(1)      the current forecast revenue outturn position for 2019/20 and the current position relating to delivery of savings included in the 2019/20 revenue budget be noted;

(2)      the mitigating measures being used to ensure a balanced forecast outturn position be noted;

(3)      the updates to the spending profiles within the capital programme across financial years, as set out at paragraph 5.1.1 of the report, be noted;

(4)      the latest capital expenditure position as at 31 July 2019 to date of £3.3m, as set out at paragraph 5.2.2 of the report, with the latest full year forecast being £26.7m, as set out at paragraph 5.3.1, be noted;

(5)      explanations of variances to project budgets, as set out at paragraph 5.3.2 of the report, be noted;

(6)      the new scheme added to the Capital Programme under delegated authority for 2019/20, as set out at paragraph 5.9.1 of the report, be noted;

(7)      approval of the Town Centre Commission Fund grant for inclusion in the capital programme be granted, once final approval for the grant is received from Liverpool City Region Combined Authority, as set out at section 5.5 of the report; the Executive Director be granted delegated authority to sign the Grant Agreement; and the S151 Officer be granted delegated authority to authorise grant claim submissions; and

(8)      the fact that capital resources will be managed by the Head of Corporate Resources to ensure the capital programme remains fully funded and that capital funding arrangements secure the maximum financial benefit to the Council, be noted

(9)      the Council be recommended to approve for inclusion in the capital programme the Town Centre Commission Fund grant once final approval for the grant is received from Liverpool City Region Combined Authority, as set out at section 5.5 of the report;

Reasons for the Decision:

To ensure the Cabinet is informed of the forecast outturn position for the 2019/2020 Revenue Budget as at the end of July 2019, including delivery of agreed savings, and to provide an updated forecast of the outturn position with regard to the collection of Council Tax and Business Rates.

To keep Members informed of the progress of the Capital Programme against the profiled budget for 2019/20 and agreed allocations for future years.

To progress any changes that are required in order to maintain a relevant and accurate budget profile necessary for effective monitoring of the Capital  ...  view the full minutes text for item 40