Issue - meetings

To receive a report by the Head of Resources.

Noted the emerging variations to the approved 2014/15 revenue and capital budgets.

Consideration was given to a report by the Head of Resources (a copy of which is appended in the Minute Book) highlighting the emerging variations to the approved 2014/15 revenue and capital budgets. The report had been considered by the Overview and Scrutiny Panel (Economic Well-Being) whose comments were relayed to the Cabinet.

It was reported that the New Homes Bonus for 2015/16 would be based on the increase in houses in the year ending September 2014. Members were encouraged to note that the Council was currently ahead of its profiled new-homes target which would equate to a gain on 2015/16 NHB receipts of £168,000.

Having been advised that a further report on the outcome of an audit review into the Huntingdon Multi-Storey Car Park and the One Leisure St Ives redevelopment would be presented to a future meeting, it was

RESOLVED

that the forecast variations to the approved budgets, detailed in the report now submitted, be noted.

To consider a report by the Head of Resources updating Members on any emerging variations to the 2014/15 approved revenue and capital budgets.

Consideration was given to a report by the Head of Resources (a copy of which is appended in the Minute Book) highlighting the emerging variations to the approved 2014/15 revenue and capital budgets. Members noted that the variations in the net revenue budget thus far represented a saving of £0.355m.  The position with regard to the net capital budget reflected slippage of £1.945m, which had been carried over from 2013/14.

Members discussed the capital overspend of £0.050m on the Huntingdon Multi-Storey Car Park, which had arisen as a result of a change to the specification as the build progressed. Having noted that this was the subject of a separate review, the Panel requested that the outcome of this review should be presented to a future meeting.