Decision details

Consideration was given to a report providing a summary of the financial monitoring reports as at the end of December 2016.  The report summarised the Revenue Budget Monitoring Report as at 31 December 2016; Monitoring of Service Choices Savings; Monitoring of Financial Risks; Capital Plan Monitoring report as at 31 December 2016; Treasury Monitoring Report as at 31 December 2016; and Reserves and Balances.  The latest budget monitoring for the Integration Joint Board was attached at appendix 3 to the Monitoring of Financial Risks Report.

Decision

The Committee –

1.    Noted the revenue budget monitoring report as at 31 December 2016 and agreed to recommend to Council approval, in principle, that £0.172m of the Customer Services estimated underspend is earmarked and carried forward to be used to develop detailed business cases in respect of 11 digital transformation options and to support the work of the Transformation Board; which would reduce the forecast underspend to £1.460m.

2.    Noted the progress of the service choices policy saving options as at the end of December 2016.

3.    Noted the current assessment of the Council’s financial risks.

4.    Noted the capital plan monitoring report as at 31 December 2016 and note the over project cost changes, the project slippages and accelerations and the updated capital plan reflecting these changes.

5.    Noted the treasury monitoring report as at 31 December 2016.

6.    Noted the overall level of reserves and balances.

(Reference:  Report by Head of Strategic Finance dated 31 January 2017, submitted)