Issue - meetings

The report sets out the overall financial position of the Council for 2014/15 as at November 2014 and covers the following topics:

Budget monitoring summary, Council Tax & NNDR collection rates, Debt analysis, Capital Programme summary, Financial Control.

(i)         that the note the Finance report be noted;

(ii)        that approval be given to the revenue budget virements in section 7 of the Financial Report appendix.

Councillor Pavey (Deputy Leader of the Council) introduced the report from the Chief Finance Officer which set out the overall financial position of the Council for 2014/15 as at November 2014 and included, a budget monitoring summary, Council Tax and NNDR collection rates, debt analysis, capital programme summary and financial control. He drew attention to the reasons for projected underspends and overspends particularly within the Registrars Service of £0.3m due to a forecast reduction in income from Citizenship Ceremonies and the Nationality Checking Service. He noted that capital expenditure was currently as forecast. The HRA debt was attributed to the non-payment of rent and schools would be asked to take on additional services in the light of their surplus. Councillor Pavey drew lead members’ attention to the audit reports with limited assurances where lessons needed to be learned.

Councillor Denselow expressed regret at the lack of information from the Home Office regarding policy changes which would lead to a loss of income and increased the financial burden on the council.

RESOLVED:

(i)         that the Finance report be noted;

(ii)        that approval be given to the revenue budget virements in section 7 of the Financial Report appendix.