Decision details

Cllr Ray Theodoulou, Cabinet Member for Finance and Change, gave an update on the year end forecast for the 2017-18 County Council’s Revenue and Capital Budgets.  

Having considered all of the information, known proposals and the reasons for the recommendations, Cabinet noted the report and

RESOLVED to: -

1)    Note the forecast revenue year end position as at the end of November 2017 for the 2017/18 financial year of a net £0.036 million overspend;

2)    Approve the creation of a “Minimum Wage” Reserve, and the transfer of £1 million from the revenue Adult Social Care budgets into the reserve;

3)    Note the proposed draw down of £0.325 million from the Gloucestershire Business Rates Pool Reserve as approved by the Gloucestershire Economic Growth Joint Committee (GEGJC) under delegated powers;

4)    Note the forecast capital year end position as at the end of November 2017 of £109.277 million against a re-profiled budget of £106.864 million, resulting from additional planned scheme spend of £2.168 million with additional funding expected to be confirmed within the next month;

5)    Note the transfer of a £0.03 million revenue contribution to capital from the previously approved Lock House drainage scheme,(which is no longer required), to the Slimbridge Drainage Scheme;

6)    Approve the revenue contribution to capital of £0.150 million from the revenue Catering budget to the school Kitchen Upgrade capital scheme;

7)    Approve the revenue contribution to capital of £0.063 million from the revenue Capital Maintenance budget towards the Archives capital project budget;

8)    Approve the addition of £0.141 million developer contributions to the Shurdington Primary School scheme and the transfer of £0.141 million Basic Need Grant to the unallocated Basic Need Grant budget;

9)    Approve the allocation of £0.208 million s106 contribution towards a new classroom block at Cirencester Deer Park School;

10)Approves the addition of £0.139 million developer contributions to the Cleeve School scheme;

11)Approve a new scheme for an outdoor learning facility at Mitton Manor Primary School, funded by £0.026 million developer contribution;

12)Approve an increase of £6.345 million in the Highways Capital budget funded from a variety of sources as outlined in the report;

13)Approves an additional increase of £0.04 million to the Archives capital project budget funded from a donation from Gloucestershire Diocese;

14)Approves a new scheme for a Wi-Fi and study area at Cheltenham Library funded by £0.016 million developer contribution;

15)Notes the overall increase to the Capital programme taking into account the above changes of £7.128 million.