Issue - meetings

Report of Head of Finance

Summary

This report summarises the Council’s Revenue and Capital performance for the first 9 months of the financial year 10/11 and projections for the full 10/11 period. These are measured by the budget monitoring function and reported via the Performance Management Framework (PMF) informing the 10/11 budget process currently underway.

This report also considers progress against the 20010/11 Corporate Procurement Action Plan which contributes to our annual efficiency target.

Recommendations

The Executive is recommended:

(1)               To note the projected revenue & capital position at December 2010.

(2)               To approve the changes in the 2010/11capital programme as follows:

·        Slip an additional £2,072K of project funding into the 2011/12 capital programme (detailed in main body of report below) and consider this as part of the 2011/12 budget process.

·        Approve the supplementary estimate of £45,000 for implementing the changes due to car parking proposals (detailed in Appendix 3).

(3)               To note the contents and the progress against the Corporate Procurement action Plan (detailed in Appendix 1) and the Procurement savings achieved at December 2010 (detailed in Appendix 2).

(4)               To approve the transfer of projected service underspends to reserves to facilitate the funding of SNC joint working implementation costs and replenishment of the planning control reserve.

(5)               To approve the transfer of the windfall interest received in respect of the Councils VAT Fleming case to the Organisational change reserve.

Recommendations Approved

The Head of Finance submitted a report which summarised the Council’s Revenue and Capital performance for the first 9 months of the financial year 2010/11 and projections for the full 2010/11 period. These are measured by the budget monitoring function and reported via the Performance Management Framework (PMF) informing the 2010/11 budget process currently underway.

The report also considered progress against the 2010/11 Corporate Procurement Action Plan which contributes to the council’s annual efficiency target.

Resolved

(1)               That the projected revenue & capital position at December 2010 be noted.

(2)               That the changes in the 2010/11capital programme as detailed in 3 – 7 below be approved.

(3)               That an additional £2,072K of project funding into the 2011/12 capital programme be slipped and that this be considered as part of the 2011/12 budget process.

(4)               That the supplementary estimate of £45,000 for implementing the changes due to car parking proposals be approved.

(5)               That the contents and the progress against the Corporate Procurement action Plan and the Procurement savings achieved at December 2010 be noted.

(6)               That the transfer of projected service underspends to reserves to facilitate the funding of SNC joint working implementation costs and replenishment of the planning control reserve be approved.

(7)               That the transfer of the windfall interest received in respect of the Councils VAT Fleming case to the Organisational change reserve be approved.

Reasons

This report illustrates the Council’s performance against the 2010/11 Revenue and Capital Budget and includes the latest update against the 2010/11 Corporate Procurement Action Plan.

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