Decision details

(Report of Director of Finance and Transformation)

The report provided information on the Council’s key budget areas of salaries, major income streams and investment income for the year ended 31 March 2015.  It also gave details of the variations agreed in relation to the revenue budget, summarised to provide an overall budget outturn position for 2014/15 which showed a net adverse variance of £85,687, largely attributable to a shortfall on the Business Rates Retention Scheme.

Details were provided of variations identified through budgetary control in respect of 2015/16.  Reference was made to the loss of recycling income arising from the demise of Aylesford Newsprint, pressures of government initiatives in respect of housing benefits and the impact on the savings target set in the Medium Term Financial Strategy.

An update was also given on capital expenditure and variations agreed in relation to the capital plan.

Following consideration by the Finance, Innovation and Property Advisory Board, the Cabinet Member for Finance, Innovation and Property resolved that:

The contents of the report be noted and endorsed.