Meeting documents
Finance and Best Value Overview and Scrutiny Committee
Wednesday, 6th February 2008
| Present | |
| Chair | CM Teggin |
| Councillors | SA Brown, FM Doyle, DM Elderton, AER Jones, ED Prout |
| Deputy | SL Rowlands( for Cllr J Hale ) |
| Index to Minutes | |
| Minute 62 - DECLARATIONS OF INTEREST/PARTY WHIP | |
| Minute 63 - PROJECTED BUDGET 2008/2009 | |
| Minute 62 - DECLARATIONS OF INTEREST/PARTY WHIP | ||
| Minute Text : Members were asked to consider whether they had personal or prejudicial interests in connection with any item(s) on this agenda and, if so, to declare them and state what they were. Members were reminded that they should also declare, pursuant to paragraph 18 of the Overview and Scrutiny Procedure Rules, whether they were subject to a party whip in connection with any item(s) to be considered and, if so, to declare it and state the nature of the whipping arrangement. No such declarations were made. |
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| Minute 63 - PROJECTED BUDGET 2008/2009 | ||
| Minute Text : At its meeting on 23 January 2008 (minute 460 refers), the Cabinet recognised the need for further measures to close the budget gap, and agreed: - (i) That, in the light of the report now presented by the Director of Adult Social Services on potential procurement efficiencies in Nursing and Residential Home care the sum of £900,000 be bridged for one year from balances. (ii) That, in the light of the Council’s priority for improvement in 2008/2009 to improve the use of the Council’s land and assets, and in the light of the availability of a Save to Invest Fund to facilitate changes, the sum of £1m to be saved from improved use of the Council’s assets be bridged from balances for the period of one year. The Director of Finance reported that the above items had been referred to the relevant Overview and Scrutiny Committees for their consideration, prior to the meeting of the Council on 18 February 2008 and were referred to this Committee in view of the use of £1.9m of balances to provide bridging finance. He presented, in tabular format, a financial monitoring statement, which highlighted the financial position as at 31 January 2008. At the request of members he reported upon changes since the last meeting of the Committee and indicated that the financial position was subject to change on almost a daily basis. The statement indicated projected balances as at 31 March 2008 of £8.5m, which would be reduced to £6.6m if the use of bridging finance was approved by the Council. The District Auditor had recommended that balances should be maintained in the order of £5.5m and the Director expressed the view that the proposal to provide bridging finance was an acceptable use of balances. Members expressed their appreciation for the provision of an up to date financial statement and were satisfied that, as the balances would be maintained above the level recommended by the District Auditor, the proposed use of bridging finance to close the budget gap was an acceptable and prudent use of balances. |
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| Minute Decision : Resolved - That the report be noted and the proposed use of balances to provide bridging finance in the order of £1.9m be endorsed. |
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(Minute Published: 11 February 2008)