Agenda and minutes

Report of the Cabinet Member for Finance summarising the General Fund and Housing Revenue Account revenue financial position for the Authority for the six month period to the end of September 2017.

On consideration of the report of the Cabinet Member for Finance, Cabinet agreed the following:

General Fund

(i)  Note the current General Fund revenue position for 2017/18 as at September 2017, which is a forecast overspend at year end of £5.00Magainst the working budget, as outlined in paragraph 3. 

(ii)  Note that the forecast overspend for portfolios is £5.36M as outlined in paragraph 4 and further in Appendix 1.

(iii)  Note the actions and assumptions being put in place to address the overspend position as described in paragraphs 5 to 12.

(iv)  Note the performance to date with regard to the delivery of the agreed savings proposals approved for 2017/18 as detailed in paragraphs 13 to 20.

(v)  Note the Key Financial Risk Register as detailed in Appendix 2.

(vi)  Note the performance against the financial health indicators detailed in Appendix 3.

(vii)  Note the performance outlined in the Treasury Management update on benchmarking, prudential indicators and financial outlook in paragraphs 38 to 44 and attached as Appendix 4.

(viii)  Note the performance outlined in the Quarterly Collection Fund Statement attached as Appendix 5.

Housing Revenue Account

(ix)  Note the current HRA budget monitoring position for 2017/18, as at September 2017. There is a forecast overspend at year end of £0.35M against the working budget as outlined in paragraphs 45 to 47.

Report of the Cabinet Member for Finance providing an update to the Medium Term Financial Strategy and Budget, approved by Council in February 2017, for the period of 2017/18 to 2020/21.

DECISION MADE:  (CAB 17/18  19635)

On consideration of the report of the Cabinet Member for Finance, Cabinet agreed the following:

(i)  To note that any implications of announcements made in the Autumn Statement on the Councils position will be included in the MTFS update to Council in February 2018.

(ii)  To note that the report identifies potential additional general fund pressures totalling £5.87M as detailed in paragraphs 21 to 24 along with the proposed funding mitigations.

(iii)  To note that further proposals will need to be considered to address the 2019/20 and future years budget gap and that a further update will be provided in the update of the MTFS report to Council in February 2018.

  To note the position on the Housing Revenue Account as detailed in paragraphs 42 to 51 including the need to make savings of £3.94M in 2018/19.

(iv)  To note that should any formal budget consultation be required it will be undertaken as necessary.

(v)  To note that if any budget proposals impact on staffing, consultation will be undertaken in line with legislation and the Councils agreed processes before proposals are implemented.

(vi)  To note and ratify the decision to submit a Business Rate Pilot application for 2018/19 as part of a pool with Portsmouth City Council and the Isle of Wight Council as detailed in paragraph 29.

(vii)  To delegate authority to the Service Director – Finance & Commercialisation (S151 Officer), following consultation with the Cabinet Member for Finance, to do anything necessary to give effect to the proposals contained in this report.

Report of the Cabinet Member for Finance informing Council of any major changes in the overall General Fund & HRA Capital Programmes for the period of 2017/18 to 2021/22, highlighting the changes in the programme since the last reported position to Cabinet in August 2017.

DECISION MADE:  (CAB 17/18  19625)

On consideration of the report of the Cabinet Member for Finance, Cabinet agreed the following:

(i)  Approve the revised General Fund Capital Programme, which totals £142.17M (as detailed in paragraph 59) and the associated use of resources.

(ii)  Approve the revised HRA Capital Programme, which totals £182.88M (as detailed in paragraph 59) and the associated use of resources.

(iii)  Notes that £3.86M has been added to the programme, with approval to spend, either under delegated powers or by Cabinet subject to the relevant financial limits. These additions are detailed in paragraph 7 and Appendix 1 and 3.

(iv)  Approve the addition of £0.03M to the E&T - City Services programme and approval to spend £0.03M as detailed in paragraph 9 and Appendix 1.

(v)  Approve the addition of £0.39M to the Sustainability programme and approval to spend £0.39M as detailed in paragraphs 10 to 14 and Appendix 1.

(vi)  Approve the addition of £0.50M to the Transport programme and approval to spend £0.50M as detailed in paragraph 15 and Appendix 1.

(vii)  Notes that the forecast position at Quarter 2 is £125.37M, resulting in a potential underspend of £36.90M, as detailed in paragraph 41 to 52 and Appendix 5.

(viii)  Approve the slippage and re-phasing as set out in paragraph 16-40 and as detailed in Appendix 4.

(ix)  Notes that the capital programme remains fully funded up to 2021/22 based on the latest forecast of available resources although the forecast can be subject to change; most notably with regard to the value and timing of anticipated capital receipts and the use of prudent assumptions of future Government Grants to be received.

Report of the Cabinet Member for Environment and Transport seeking approval to proceed with the declaration of Peartree Green as a Local Nature Reserve.

DECISION MADE:  (CAB 17/18  19529)

On consideration of the report of the Cabinet Member for Environment and Transport, and having considered representations from a Member of the Council and an Ecological Advisor, Cabinet agreed the following:

To proceed with the declaration of Peartree Green as a Local Nature Reserve (LNR).

Report of the Service Director, Legal and Governance detailing the presentments accepted at Court Leet, actions taken to date and Cabinet Members or officers identified to lead on the response and any further action.

DECISION MADE:  (CAB 17/18  19648)

On consideration of the report of the Leader, Cabinet agreed the following:

(i)  that the initial officer responses to the Presentments approved by the Court Leet Jury, as set out in Appendix 1, be noted; and

(ii)  that individual Cabinet Members ensure responses are made to Presenters regarding presentments within their portfolios as appropriate and as soon as practically possible.