This report sets out the forecast outturn position for the Council’s Capital and Revenue budgets as at 31^st December 2011 compared to the approved 2011-12 budget. In addition it provides information on key financial indicators in order to provide an assessment of the overall financial health of the Council.

The report contains a number of recommendations, as follows:-

v     Recommend to Council the inclusion of £400,000 Feed-In-Tariff solar panel capital works to the 2011/12 Housing Revenue Account capital programme and to recommend to Council the approval of the use of Capital Programme under spends to fund this project.

v     Determine how, if at all, the Board wishes to fund the inclusion of £300,000 Feed-In-Tariff solar panel capital works within the 2011/12 General Fund Capital Programme in the absence of any underspend on the  Programme and recommend to Council the approval of such funding as appropriate.

v      Approve the budget movements within the Housing Revenue Account as detailed in the report relating to the virement of £500,000 from the responsive repairs budget to both planned gas maintenance (£300,000) and void repairs (£200,000), together with budget movements of £212,000 from other planned maintenance schemes to cover overspends within the Tenancy Management area.

v     Agree that £50,000 of capital expenditure be brought forward from 2013-14 to 2011-12 to fund feasibility work associated with the £2m Depot Relocation Project planned for 2013/14 and recommend to Council  approval of this work being brought forward.

The Head of Finance submitted report (previously circulated, now appended) setting out the forecast outturn position for the Council’s Capital and Revenue budgets as at 31st December 2011 compared to the approved 2011-12 budget as well as information on key financial indicators in order to provide an assessment of the overall financial health of the organisation.

Resolved to:-

(1)                                       RECOMMEND Council to:-

(a)       Agree the inclusion of £400k feed-in-tariff solar panel capital works to the 2011/12 HRA capital programme and the approval of the use of Capital Programme underspends to fund this project;

(b)       Agree to the inclusion of £300k feed-in-tariff solar panel capital works within the 2011/12 General Fund Capital Programme in the absence of any underspend on the Programme and the approval of such funding as appropriate;

(c)        On the basis of Council agreeing the additional funding in regard to the fitting of solar photovoltaic  panels (as set out in Minute 74 above), to grant project approval for the fitting of such solar photovoltaic panels to appropriate Council-owned sheltered housing accommodation blocks and leisure centres; to waive the Council’s procurement rules in regard to selecting an appropriate contractor or contractors for this work on the basis that following such rules would not help to achieve overall best value; and to delegate the authority to award such contract or contracts to the Chief Executive;

(d)       Agree that £50k of capital expenditure be brought forward from 2013-14 to 2011-12 to fund feasibility work associated with the £2m Depot Relocation Project planned for 2013/14.

(2)       Approve the budget movements within the HRA as detailed in the report relating to the virement of £500k from the responsive repairs budget to both planned gas maintenance (£300k) and void repairs (£200k), together with budget movements of £212k from other planned maintenance schemes to cover overspends within the Tenancy Management area.