Decision details

Alison Scott, Director of Finance, presented the report.

The committee noted that the timing of the report meant the staff pay award of 3.4 – 4% was not accounted for in the figures, but that the money required to meet the commitment was held in contingency funds.

In response to questions, officers confirmed that the changes in insurance costs reflected the costs previously being set for a five-year period. As the contract had since been retendered the costs had changed, but contingencies had been held to account for increases in the costs of insurance. The committee noted that works on Three Rivers House had been accounted for in the capital programme and were within budget.

RESOLVED:

To recommend to Council:

1. That the revenue budget virements as set out in appendices 1 to 3 be approved and incorporated into the three-year medium-term financial plan.
2. That the revenue budget supplementary estimates as set out in appendices 1 to 3 be approved and incorporated into the three-year medium-term financial plan.
3. That the revenue variances to be managed as set out in appendices 1 to 3 be noted.
4. That the capital variances as set out in appendices 1 to 3 be approved and incorporated into the three-year medium-term financial plan.