Agenda and minutes

Members are asked to declare any interest and the nature of that interest which they may have in any of the items under consideration at this meeting.

There were no declarations of interest.

The Chairman to advise whether they have agreed to any item of urgent business being admitted to the agenda.

There were no items of urgent business.

To confirm as a correct record the minutes of the meeting held on 4 November 2014.

The Minutes of the meeting of the Committee held on 4 November 2014 were confirmed as a correct record and signed by the Chairman.

To receive communications from the Chairman.

The Chairman made the following announcement:

1.         The informal meeting of the Committee to consider Capital Bids had been postponed from 11 November 2014 and would be held on 25 November 2014 instead.

Report of Director of Resources

Purpose of report

This report summarises the Council’s Revenue and Capital position, treasury management and procurement performance for the first six months of the financial year 2014-15 and projections for the full 2014-15 period.

To receive information on treasury management performance and compliance with treasury management policy during 2014-15 as required by the Treasury Management Code of Practice.

Recommendations

Budget Planning Committee is recommended:

 1.1        To note the projected revenue and capital position at September 2014.

1.2         To note the quarter 2 (Q2) performance against the 2014-15 investment strategy and the financial returns from the funds.

The Committee considered the report of the Director of Resources, which detailed the Quarter 2 Revenue and Capital Budget Monitoring position.

In response to queries from the Committee, the Head of Finance and Procurement explained that the anticipated overspend was currently an estimate, and the situation could change before the end of the financial year.

Resolved

(1)       That the projected revenue and capital position at September 2014 be noted.

(2)       That the Quarter 2 performance against the 2014-15 investment strategy and returns from funds be noted.

To review and note the Committee Work Programme

The Committee considered the draft work programme for 2014/15.

Resolved

(1)       That the work programme be noted.

The following items contain exempt information as defined in the following paragraphs of Part 1, Schedule 12A of Local Government Act 1972.

3 – Information relating to the financial or business affairs of any particular person (including the authority holding that information).

Members are reminded that whilst the following item has been marked as exempt, it is for the meeting to decide whether or not to consider it in private or in public. In making the decision, members should balance the interests of individuals or the Council itself in having access to the information. In considering their discretion members should also be mindful of the advice of Council Officers.

Should Members decide not to make a decision in public, they are recommended to pass the following recommendation:

“That under Section 100A of the Local Government Act 1972, the public and press be excluded from the meeting for the following item of business on the ground that, if the public and press were present, it would be likely that exempt information falling under the provisions of Schedule 12A, Part 1, Paragraph 3 would be disclosed to them, and that in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.”

Resolved

That under Section 100A of the Local Government Act 1972, the public and press be excluded from the meeting for the following items of business on the grounds that, if the public and press were present, it would be likely that exempt information falling under the provisions of Schedule 12A, Part 1, Paragraph 3 would be disclosed to them, and that in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

The Committee considered the exempt addendum to the report of the Director of Resources.

Resolved

(1)       That the exempt addendum be noted.

Exempt report of the Head of Finance and Procurement

The Committee considered an exempt report and presentation from the Head of Finance and Procurement, which detailed the current Medium Term Revenue Plan position.

Resolved

(1)       That the update be noted