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Agenda item

July Financial Review

Officer: Richard Simpson

Key decision: no

Decision:

The Leader of the Council delegated to the Cabinet the power to make the decisions set out below.

 

RESOLVED to approve

 

1.      The approach to ensuring the financial challenge of the period 2018/20 continues to be managed efficiently and effectively including delegation of decisions on the 2018/19 budget to the Cabinet Member for Finance and Resources in consultation with the relevant Cabinet member as set out in paragraph 4.12.

 

2.      The revised capital programme as detailed in section 5 and appendix 2 of this report. 

 

3.      The continued use of capital receipts for funding transformation as detailed in section 6.

 

RESOLVED to note

 

1.    Final outturn of the 2017/18 budget as detailed in section 3.

 

2.    The update on the Revolving Investment Fund as detailed in section 3.21.

 

Minutes:

The Cabinet Member for Finance and Resources thanked officers for their work to successfully complete the accounts within two months rather than three.

 

Members were informed that the bottom line had improved and while there had been a £5 million overspend, the council had been able to fund the overspend using minimal general reserves.

 

There had been £28 million growth in 2019/19 which had been monitored very closely, as were all savings options. While over the summer there would be a review of some areas of policy and charging to ensure the budget would be balanced for the rest of the year, however financial pressures would continue including £7 million for Unaccompanied Asylum Seekers.

 

The Cabinet Member stated the report reflected the difficult financial pressures experienced, however it was noted that the council continued to the deliver on the manifesto commitments of the Administration.

 

In response to Member questions, it was stated the £2 million at paragraph 5.5 of the report was a cost, however it would be outweighed by the savings within the waste contract.

 

The Leader responded to queries regarding Unaccompanied Asylum Seekers stating that the case was made two years before to Home Office officials that the funding was not sufficient, and that it was not appropriate that Croydon received less funding than Kent which had also been a lead authority. Members were informed that officers were making a robust case for additional funding which would form part of the joint letter to the Home Office.

 

In response to Member questions the Cabinet Member for Finance and Resources noted the slippage in the capital budget was due to slower drawdown of capital borrowing by Brick by Brick than originally planned but it would be achieved in 2018/19. In regards to plans to increase income it was stated that all charges, including planning and licensing application charges, would be reviewed as many were not at the statutory maximums. Work had begun in regards to this and the new fees and charges schedule for parking and permits had been reviewed by the Traffic Management Advisory Committee.

 

The Cabinet Member for Homes & Gateway Services informed Members that the cost for gas entries related to ensuring gas safety inspections took place when tenants had not given access to their properties.

 

The Leader of the Council delegated to the Cabinet the power to make the decisions set out below.

 

RESOLVED to approve

 

1.      The approach to ensuring the financial challenge of the period 2018/20 continues to be managed efficiently and effectively including delegation of decisions on the 2018/19 budget to the Cabinet Member for Finance and Resources in consultation with the relevant Cabinet member as set out in paragraph 4.12.

 

2.      The revised capital programme as detailed in section 5 and appendix 2 of this report. 

 

3.      The continued use of capital receipts for funding transformation as detailed in section 6.

 

RESOLVED to note

 

1.    Final outturn of the 2017/18 budget as detailed in section 3.

 

2.    The update on the Revolving Investment Fund as detailed in section 3.21.

 

Supporting documents: