Issue - meetings

The Executive Director for Finance and Corporate Resources introduced the report, which covered the period April – December 2012.  The following salient points were discussed in detail:

·                Expenditure by the end of December 2012 had exceeded expectations for the period.  To address this Heads of Service had been tasked with ensuring that spending was reduced in the first three months of 2013.

·                £2.032 million had been saved in spending on the Council’s capital budget during the period.

·                Funding on the public realm works in the town centre would be carried forward to 2013/14.  It was understood that the work on the new branch of Sainsbury’s supermarket, as part of the regeneration programme, would not begin until the Co-operative’s lease on the building had ended.

·                The delayed works to the cemetery toilets were discussed by Members and it was commented that procurement issues had impacted on delivery of the project. (The Head of Environmental Services to provide an explanation for the causes of this delay).

·                Members noted that £200,000 had been carried forward by Community Services to 2013/14 for the affordable housing programme with BDHT. (The Head of Community Services to provide an update in respect of how this funding would be utilised.)

·                Sponsorship income had been lower than anticipated at the beginning of the year. To address this situation Officers were aiming to identify further opportunities to obtain income through sponsorship and promotions. (The Executive Director of Finance and Corporate Resources to clarify the financial targets that had been set for income from sponsorship).

·                There had been a shortfall in income for Planning and Regeneration Services, due to lower than anticipated revenue from planning applications and land charges.  (The Head of Planning and Regeneration to produce a briefing note on this subject for the consideration of the Board).

·                The Cabinet had recently approved £30,000 capital expenditure on the purchase of new computer equipment as well as the Treasury Management Strategy for the year.

·                Capital receipts valued at £1.8 million would be carried forward to the new municipal year, though it was anticipated that in subsequent years there would be an overspend on the Capital Programme.

RESOLVED that the April – December (Quarter 3) Finance Monitoring Report 2012/13 be noted.