The Heads of Finance and Business Improvement and Technology have submitted a report which updates Members on Finance, Risk and Performance as at the end of Quarter 4, 31st March 2014

Officer Recommendations: That the City Executive Board:

1.            Note the financial outturn and performance of the Council for the year 2013/14 and also the position of risks outstanding as at 31st March 2014;

2.            Note the transfers to General Fund earmarked reserves detailed in the report (including for expenditure on the Partnership Payment, Flooding, Capital Programme, Gladiators and a contingency against future property investment losses) and Appendix E5;

3.            Note the transfers to the Housing Revenue Account (HRA) earmarked reserves as detailed in paragraphs 15 and 16 and Appendix E5;

4.            Agree the recommended carry forward requests outlined at paragraph 9 and detailed in Appendix E4;

5.            Note the capital slippage as detailed in Appendix E2; and.

6.            Recommend to Council to include a budget of £162,000 in the capital programme in respect of highways vehicles outlined in paragraph 22.

The Heads of Finance and Business Improvement and Technology submitted a report (previously circulated, now appended) which detailed the Council’s finances, risk and performance as at the end of quarter 4, 31st March 2014

Cllr Turner, Executive Board Member for Finance, Asset Management and Public Health presented the report.

Cllr Fooks queried whether the Council was being overcautious with the amount of money set aside in contingencies. Cllr Turner stated that the Council encouraged officer innovation and therefore each project’s risk was measured and only assigning a contingency if the risk deemed necessary.

Cllr Fooks asked what were the £0.450M saving from vacancies in Direct Services? The Executive Director of Organisational Development and Corporate Services stated she would find out and reply to Cllr Fooks in writing.

The Scrutiny report on the integrated report was discussed and recommendation 1 on the purchase of the Gladiator Clubrooms was noted.

In regards to recommendation 2 on the contingency available to prevent homelessness, the Board felt the current contingency was sufficient. 

The City Executive Board resolved to:

1.            Note the financial outturn and performance of the Council for the year 2013/14 and also the position of risks outstanding as at 31st March 2014;

2.            Note the transfers to General Fund earmarked reserves detailed in the report (including for expenditure on the Partnership Payment, Flooding, Capital Programme, Gladiators and a contingency against future property investment losses) and Appendix E5;

3.            Note the transfers to the Housing Revenue Account (HRA) earmarked reserves as detailed in paragraphs 15 and 16 and Appendix E5;

4.            Agree the recommended carry forward requests outlined at paragraph 9 and detailed in Appendix E4;

5.            Note the capital slippage as detailed in Appendix E2; and.

6.            Recommend to Council to include a budget of £162,000 in the capital programme in respect of highways vehicles outlined in paragraph 22.

7.            Congratulate officers on their hard work.