For the Finance Panel to note the City Executive Board response to the 2016/17 Budget Review recommendations.  The Panel may wish to comment on the responses or the budget review process.

The Panel noted the responses and restated its support for the recommendations that were not agreed or were agreed in part.  The Panel made the following observations:

·         £1200 of income from commercial filming seemed very small (recommendation 9).

·         That the Panel regretted the response to recommendation 16 and felt that the level of the homelessness reserve should be kept under review.

·         That the response to recommendation 19 did not make sense as it was possible to lock in the prices of multi-year capital schemes when awarding contracts without having the cash available.

Invited:

Nigel Kennedy – Head of Financial Services

For the Panel to review a first draft of its Budget Review report and agree any changes before the report is presented to the City Executive Board (CEB).

Please note that this is an early draft that has not been thoroughly proof-read at the time of publication.

The Panel’s final Budget Review report will need to be cleared for CEB publication by no later than midday on Thursday 4 February 2016.

Note: This draft report is based on the budget proposals that were approved for consultation by the City Executive Board on 17 December 2015.