Agenda item

8.1

The Executive Director, Resources submitted a report which provided the Month 5 Monitoring Statement on the City Council’s Revenue and Capital Budget for 2012/13.

8.2

RESOLVED: That Cabinet:-

(a)

notes the updated information and management actions provided by this report on the 2012/13 budget position;

(b)

approves requests on Invest to Save projects in paragraph 37;

(c)

notes the carry forward request in paragraph 19 but withholds approval until the Place Portfolio achieves and maintains a balanced position as per EMT’s recommendation; and

(d)

in relation to the Capital Programme: -

(i)

approves the proposed additions to the Capital Programme listed in Appendix 1, including the procurement strategies and delegations of authority to the Director of Commercial Services or Delegated Officer, as appropriate, to award the necessary contracts following stage approval by the Capital Programme Group;

(ii)

approves the proposed variations in Appendix 1;

(iii)

approves the emergency approvals and variations approved by Directors under their delegated authority; and

(iv)

notesthe latest position on the Capital Programme including the current level of forecasting performance .

8.3

Reasons for Decision

To formally record changes to the Revenue Budget and the Capital Programme and gain Member approval for changes in line with Financial Regulations and to reset the Capital Programme in line with latest information.

8.4

Alternatives Considered and Rejected

A number of alternative courses of action are considered as part of the process undertaken by Officers before decisions are recommended to Members. The recommendations made to Members represent what Officers believe to be the best options available to the Council, in line with Council priorities, given the constraints on funding and the use to which funding is put within the Revenue Budget and the Capital Programme.

8.5

Any Interest Declared or Dispensation Granted

None

8.6

Reason for Exemption if Public/Press Excluded During Consideration

None

8.7

Respective Director Responsible for Implementation

Laraine Manley, Executive Director, Resources

8..8

Relevant Scrutiny and Policy Development Committee If Decision Called In

Overview and Scrutiny Management

8.1

The Executive Director, Resources submitted a report which provided the Month 5 Monitoring Statement on the City Council’s Revenue and Capital Budget for 2012/13.

8.2

RESOLVED: That Cabinet:-

(a)

notes the updated information and management actions provided by this report on the 2012/13 budget position;

(b)

approves requests on Invest to Save projects in paragraph 37;

(c)

notes the carry forward request in paragraph 19 but withholds approval until the Place Portfolio achieves and maintains a balanced position as per EMT’s recommendation; and

(d)

in relation to the Capital Programme: -

(i)

approves the proposed additions to the Capital Programme listed in Appendix 1, including the procurement strategies and delegations of authority to the Director of Commercial Services or Delegated Officer, as appropriate, to award the necessary contracts following stage approval by the Capital Programme Group;

(ii)

approves the proposed variations in Appendix 1;

(iii)

approves the emergency approvals and variations approved by Directors under their delegated authority; and

(iv)

notes the latest position on the Capital Programme including the current level of forecasting performance .

8.3

Reasons for Decision

To formally record changes to the Revenue Budget and the Capital Programme and gain Member approval for changes in line with Financial Regulations and to reset the Capital Programme in line with latest information.

8.4

Alternatives Considered and Rejected

A number of alternative courses of action are considered as part of the process undertaken by Officers before decisions are recommended to Members. The recommendations made to Members represent what Officers believe to be the best options available to the Council, in line with Council priorities, given the constraints on funding and the use to which funding is put within the Revenue Budget and the Capital Programme.

8.5

Any Interest Declared or Dispensation Granted

None

8.6

Reason for Exemption if Public/Press Excluded During Consideration

None

8.7

Respective Director Responsible for Implementation

Laraine Manley, Executive Director, Resources

8.8

Relevant Scrutiny and Policy Development Committee If Decision Called In

Overview and Scrutiny Management