Issue - meetings

1.  The out-turn for 2014/15 and the position for 2015/16 as at the end of June 2015 be noted;

2.  That a reference be made to Policy & Resources Committee confirming agreement with the decision of the Policy and Resources Committee on the strategic revenue projection and the capital programme, in so far as it affects the Committee’s budget;

3.  The Committee agreed to consider budget pressures and opportunities to provide savings to support the medium term financial strategy through a discussion group of the whole Committee and the results of the consideration be reported to a later meeting of the Committee for consideration; and

4.  That potential capital projects be informally discussed by the discussion group and the results be reported to a later meeting of the Committee for consideration.

The Head of Finance and Resources introduced the Budget Monitoring 2015-16 and Medium Term Financial Strategy 2016-17 report. It provided a financial analysis of the recent out-turn for 2014/15, the current performance in the first quarter of 2015/16 and the recently agreed draft medium term financial strategy for 2016/17 onwards.

It was explained that the main purpose was to consider the decision of the Policy and Resources Committee on the Medium Term Financial Strategy and the impact this had on the Committee. The major budgetary pressure for the Committee to consider, as set out in the report, was temporary accommodation.

The Committee considered the report and resolutions and debated the impact of a non-decision making Budget Working Group, as referred to in the report’s recommendations.  The Committee was advised that this was intended to facilitate blue sky thinking when looking at its budgetary pressures and to enable free discussion on possible solutions.  This in turn would support a more focused debate at the Committee meeting.

Members felt that the involvement of the entire Committee was needed and that a Discussion Group would be a more appropriate term. The recommendations were amended accordingly.

RESOLVED:

1.  The out-turn for 2014/15 and the position for 2015/16 as at the end of June 2015 be noted;

2.  That a reference be made to Policy & Resources Committee confirming agreement with the decision of the Policy and Resources Committee on the strategic revenue projection and the capital programme, in so far as it affects the Committee’s budget;

3.  The Committee agreed to consider budget pressures and opportunities to provide savings to support the medium term financial strategy be considered through a discussion group of the whole Committee and the results of the consideration be reported to a later meeting of the Committee for consideration; and

4.  That potential capital projects be informally discussed by the discussion group and the results be reported to a later meeting of the Committee for consideration.

  Voting:  9 – For  0 – Against  0 – Abstentions