Issue - meetings

(Cabinet Member with Special Responsibility Councillor Bryning)

Report of Head of Financial Services

(Cabinet Member with Special Responsibility Councillor Bryning)

Cabinet received a report from the Head of Financial Services which provided an update on the draft revenue budget and capital programme to inform development of Cabinet’s budget proposals.

The options, options analysis, including risk assessment and officer preferred option, were set out in the report as follows:

In terms of the budget generally, Cabinet was requested to note the budgetary position but more importantly, take forward a number of actions to help develop a balanced set of budget proposals.  In particular, direction was sought for areas in which savings options should be developed.

Depending on the timing of the Settlement, Cabinet might be requested to review council tax targets for future years.

With regard to the more specific recommendations, options were outlined below:

-        For Treasury Management and land at Ashbourne Road / Tan Hill Drive, no alternative options were available.  This was in view of formal reporting needs, or previous decisions of Cabinet.

-        For Lancaster Market reserve, Cabinet could choose to either approve or reject the proposed amendments in the use of the Reserve.  If the changes were rejected, this could have an adverse impact on progressing negotiations.

-        For Ashton Memorial Steps, Cabinet could choose to support the allocation of funding, or defer a decision until later in the budget process.  Given the nature of the memorial asset, works to rectify the steps must be undertaken at some point.  For this reason, leaving the steps in their current condition for any length of time was advised against; there was no real benefit in delaying.  The Council would be left with an asset that could not be used for its original purpose, together with all the difficulties and potential liabilities that such a situation gave rise to.  Clearly this would go against sound asset management practice.

-        For the Community Capital Fund, Cabinet could choose to confirm or reject the allocation of funding, or defer a decision until later in the budget process.  Cabinet might wish to refer back to the Partnerships report on the November Cabinet agenda.  This allocation would support purely discretional spending.  Members were advised to consider the LSP’s recommendations and assumed commitments, against other potential uses for these funds.

The Officer preferred options were reflected in the recommendations as set out in the report.  Whilst some key elements of budget setting remained uncertain and some good progress had been made by services in making efficiency savings overall, there was still much to be done in balancing the budget.  Although Member focus had been on reviewing areas of activity, it was strongly advised that members now needed to balance these, against the existing priorities in the corporate plan.  Savings will need to be made in future years, and members will need to address priorities, and options for savings.  Although the Council’s balances were substantially higher than originally forecast, any use of balances to create a balanced budget, could be used in the short term  ...  view the full minutes text for item 69