Issue - meetings

Members considered a report on the Council’s financial position for April to September 2012.

It was noted that in respect of the revenue budget, at the end of the financial year there was at present a projected overspend of £59,000. The Executive Director (Finance and Resources) referred to specific areas where there had either been an overspend or a failure to meet projected income targets and explained that Heads of Service would be working with their teams and Portfolio Holders in order to address these issues.

It was noted that there was a request for the release of funding from reserves held for specific purposes relating to the Town Centre and Clinical Commission Group funded projects. The Executive Director (Finance and Resources) undertook to circulate details of the Clinical Commission Group funded projects to Members.

It was also noted that additional capital funding had been received from the Football Foundation and from Stoke Parish Council in respect of sports and play schemes at Braces lane, Barnsley Hall and Stoke Heath.

It was reported that there would be a need to carry forward to the 2013/2014 Capital Programme expenditure on capital schemes in relation to the Parkside development and the Public Realm works in Bromsgrove Town Centre. In addition it was proposed that the capital expenditure on the IDOX system would be split over two years. 

RESOLVED:

(a)       that the current financial position in respect of revenue and capital expenditure as set out in the report be noted;

(b)       that the following funding be released from approved reserves:

• £52,000 in relation to the Town Centre Redevelopment
• £65,000 in relation to Clinical Commissioning Group funded projects 

RECOMMENDED:

(a)       that the 2012/2013 Capital Programme be increased by £108,000 to reflect additional funding received from the Football Foundation and Stoke Parish Council in respect of the following sports and play schemes:

• Braces Lane (Football Foundation) - £50,000
• Barnsley Hall (Football Foundation) - £48,000
• Stoke Heath (Stoke Parish Council) - £10,000

(b)       that the following capital funding be carried forward to 2013/2014 in respect of capital schemes which will not be undertaken in 2012/2014:

• Parkside development and Public Realm improvements - £1,400,000
• Regulatory Services - £58,000