Decision details

To consider the report of the Chief Financial Officer setting out changes to existing Revenue and Capital budgets.

This Item is a standard Item and will remain on the Forward Plan until required

Cabinet recommends Full Council to:

(i)  Note the Consultation process that was followed as outlined in Appendix 1.

(ii)  Note the Equality Impact Assessment process that was followed as outlined in paragraphs 6 to 8.

(iii)  Approve the efficiencies, income and service reductions as set out in Appendix 2.

(iv)  Note the high level forecast for the General Fund for 2013/14 to 2015/16 as detailed in paragraphs 24 to 28.

(v)  Delegate authority to the Chief Financial Officer to action all budget changes arising from the approved efficiencies, income and service reductions and incorporate any other approved amendments into the General Fund estimates.

(vi)  Note that after taking these items into account, there is an estimated General Fund balance of £5.3M at the end of 2015/16 as detailed in paragraph 30.

(vii)  Delegate authority to the Chief Financial Officer, in consultation with the Executive Director of Corporate Services, to do anything necessary to give effect to the recommendations in this report.

1.  The recommendations have been put forward to ensure that proposals are advanced as early as possible as part of the budget process for 2013/14.

2.  The current medium term financial forecast highlights the challenges facing the Authority.  This combined with the potential impact of reductions in future funding levels for Local Government and a continuing weak economic position make it imperative that proposals for 2013/14 onwards are developed and savings achieved as early as possible.

The option to not consider changes to existing revenue and capital budgets is not compatible with the need to ensure effective and robust financial planning given the financial challenges facing the Authority.  There are almost limitless options that can be applied to budget changes in the year most of which are driven by political priorities.  In formulating the final options to present in this paper the Executive have taken into account the relevant impact of all options that were under consideration and as a result some have not been progressed.