Decision details

The report of the Head of Treasury Services was submitted, advising Members of the overall final financial performance of the HRA & General Fund Revenue Budget for the 2010/11 financial year ended 31 March 2011.

The Head of Treasury Services reported on the overall increase in the HRA working balance and net underspend in operating expenditure. He identified the main Service Committee variations in the General Fund expenditure for the financial year, including the savings attributable to the new sports facilities management contract and the surplus achieved in the recycling budget.

Scrutiny Committee – Resources considered the report at their meeting of 22 June 2011 and their support and comments were noted.

Members noted the 97.5% collection rate for Council Tax achieved in the year and the position in respect of outstanding debt and creditor payment performance. They were pleased to note that savings of over £1 million had been achieved during 2010/11 enabling over £348,000 to be returned to the working balance.

In response to a query regarding the identified pension strain repayments, members were advised that this resulted from staff redundancies but costs would be recovered from savings in the staffing budget.  A member queried the position with regard to the proposed Saturday morning opening of the Customer Services Centre. The Director Corporate Services responded that, following negotiations with the staff and trade unions, it was being proposed that this be undertaken on a six month trial basis within existing budgetary provisions.  Formal approval would be sought for any permanent extension, if appropriate, in light of the operation of the pilot scheme.

Executive noted the report and recommended Council to approve:-

(1)        the net transfer of £409,949 from Earmarked Reserves as detailed in paragraph 3.14 of the report;

(2)        supplementary budgets totalling £147,170 as detailed in paragraph 3.10 of the report;

(3)        the Earmarked Reserves at 31 March 2011;

(4)        the Council Tax account and collection rate;

(5)        that the outstanding sundry debt and aged debt analysis be noted;

(6)        that the creditor payments performance be noted;

(7)        by taking into account the overall financial position of the Council as set out in paragraph 3.9 of the report, the General Fund working balance as at 31 March 2011, be approved at £4,192,897; and

(8)        that the Housing Revenue Account working balance at 31 March 2011 is approved at £3,917,868.