Decision details

The Committee considered a report advising of updates to both the capital and the revenue funding since the Council’s Budget meeting on 11 February 2016.  The report highlighted a change to the Revenue funding in respect of the floor calculation where an error had been identified resulting in a reduction of funding of £0.068M.  It also highlighted a change to the capital funding in respect of a 20% allocation of the flooding capital grant (£0.113M) and additional monies in relation to the Children and Young People Act (£0.542M), a total increase of £0.655M.

Decision

The Committee –

1.    Noted the decrease in revenue funding due to an error in the floor calculation by Scottish Government and noted that SMT would take steps to eliminate the variance which would be reported through routine budget monitoring.

2.    Noted the increase in capital funding and the requirement to use some of the funding to meet the increased costs for the replacement of Dunclutha Children’s House as agreed at Council on 21 April 2016.

3.    Agreed that for the remainder of the capital funding, that the Asset Management Board bring forward proposals in due course for Member approval.

(Reference:  Report by Head of Strategic Finance dated 26 April 2016, submitted)