Agenda item

The Commission considered a report of the Director of Corporate Resources which set out the provisional revenue and capital outturn for 2013/14, a copy of which is filed with these minutes, marked ‘agenda item 11’.

Arising from discussion, it was noted that:

       i)        the Authority had made progress in achieving its savings in the Medium Term Financial Strategy, but that austerity would continue until at least 2018/19, with additional savings of an estimated £27.5m likely to be required by 2018/19;

     ii)        Expenditure incurred in respect of the capital outturn was 97% which was a good outcome compared to the target of 95%;

    iii)        There was concern that the Adults and Communities Department, whilst delivering the £12.4m targeted level of savings in 2013/14, had overspent its budget by £4.6m, although it was noted that this was as a result of financial pressures due to an ageing population and pricing pressures;

    iv)        Scrutiny of financial performance within the current financial year would be kept under review at the next meeting of the Commission, at which it would receive its first budget monitoring report for 2014/15.

RESOLVED:

That the report be noted.