Issue - meetings

The Head of Accountancy presented this report, which indicated the projected overspends and underspends for 2008/09.

It was noted that any rollover of an unspent budget to the following year would require the agreement of the Finance Portfolio Holder.

It was understood that income from Development Control and Building Control was less than expected due to the economic downturn.

It was noted that whilst underspends were more palatable than overspends the aim was to achieve accurate budgeting.

The Finance Portfolio Holder NOTED the report. 

The Update on the Financial Position will be tabled at the meeting.

Cabinet NOTED:

(a)               the content of the report;

(b)               that the launch of the Performance Management Portal was on target for April 2009;

(c)               the favourable performance improvement picture provided by the 2007/08 BVPI results; and

(d)               the projected expenditure position.

Cabinet REFERRED the report on the Financial Position April 2008 to January 2009 and Projected Outturn to the next meeting of the Finance Portfolio Holder for more detailed consideration.

Cabinet received the current financial position, which did not demonstrate any significant changes.  In response to queries about the underspend in the concessionary fares budget, the Chief Executive explained that the bus companies’ planned charges were unknown, as had been the delay to the Cambridge Guided Bus scheme.  Cabinet confirmed that everything that could be done by the Council was being done to reduce the delay to the receipt of the amended Northstowe Planning submission.

Cabinet thanked officers for their work, with 65% of performance indicators already showing improvement.

Cabinet NOTED:

(a)               the content of the report;

(b)               that the launch of the Performance Management Portal was on target for April 2009;

(c)               the favourable performance improvement picture provided by the 2007/08 BVPI results; and

(d)               the projected expenditure position.

Cabinet REFERRED the report on the Financial Position April 2008 to January 2009 and Projected Outturn to the next meeting of the Finance Portfolio Holder for more detailed consideration.

The Portfolio Holder NOTED the projected expenditure position. 

The Corporate Manager, Finance and Support Services, presented a report that indicated projected under and overspends for 2008/09.

The key points identified in the report were:

• The Corporate Manager, Finance and Support Services, advised the Portfolio Holder that it was important to note that £70,900 provision for the Pay and Grading Review would be the subject of rollover request.

• The Portfolio Holder acknowledged that it would be a challenge to identify the savings required to fill a shortfall of £128,400 in the efficiency target.

• The variation in Rent Income was noted.

• The Corporate Manager, Finance and Support Services, confirmed that the £384,000 receipts from sales had been from two commercial properties in Sawston.

In reply to a question concerning interest rates payable to the council, the Corporate Manager, Finance and Support Services, advised the Portfolio Holder that future rate cuts had as best as possible been anticipated, but the situation would be monitored.

The Portfolio Holder NOTED the projected expenditure position. 

At 11:20am the Principal Solicitor left the meeting.