Issue - meetings

Report of the Cabinet Member Finance

RESOLVED THAT

1. The contents of this report including the key projected variances to the 2013/14 budget and the projected total budget saving of £444,600 be noted.

2. It be recommended to Council that in principle, as part of the 2013/14 revised budget report to Council in February 2014, that this projected budget saving be used to fund the following expenditure:

3. That the budget virements to the 2013/14 budget, as detailed in Appendix 4 be approved.

The Cabinet Member Finance introduced the Budget Monitoring Report 2013/14 which updated Members on the Council’s current financial position for 2013/14 based on the monitoring exercise at the end of November 2013.  He highlighted three particular areas where savings had been achieved namely through the programme of replacement vehicles, additional compensation from government in relation to the small business rate relief scheme and good management of investment budgets. The recommendations in the report set out the intentions for using that budget saving in a prudent way.   

The Director of Resources had nothing to add but was happy to take questions from members.

In response to a question, the Cabinet Member Finance assured members that if the Cheltenham Leisure and Culture Trust wished to use of any the £200 K set aside in the reserve to support the new Trust they would have to make a request to Council and it would then be a Council decision to alllocate any funding from the reserve.

RESOLVED THAT

1. The contents of this report including the key projected variances to the 2013/14 budget and the projected total budget saving of £444,600 be noted.

2. It be recommended to Council that in principle, as part of the 2013/14 revised budget report to Council in February 2014, that this projected budget saving be used to fund the following expenditure:

3. That the budget virements to the 2013/14 budget, as detailed in Appendix 4 be approved.