Decision - Targeted Budget Management (TBM) Provisional Out-turn 2011/12

(1)               That the provisional outturn position for the General Fund, which had an underspend of £4.370m be noted.  This included £3.831m for the council controlled budgets (compared to £3.187m assumed at budget setting time) and £0.539m on the NHS managed S75 budgets;

(2)               That the provisional outturn for the Housing Revenue Account (HRA) for 2011/12 be noted;

(3)               That the carry forward requests totalling £5.602m as detailed in Appendix 2 to the report be approved;

(4)               That the changes to provisions and reserves set out under Corporate Budgets in Appendix 1 to the report be approved;

(5)               That the funding of initiatives totalling £0.662m from unallocated reserves in 2012/13 as detailed in Appendix 2 to the report be agreed;

(6)               That t the provisional outturn position on the capital programme be noted; and

(7)               That the following changes to the capital programme be approved:

(i)     The budget re-profiling as set out in Appendix 1 to the report;

(ii)   The carry forward of slippage into the 2012/13 capital programme, to meet on-going commitments on these schemes as set out in Appendix 1 to the report.

Budget monitoring is a key element of good financial management, which is necessary in order for the council to maintain financial stability and operate effectively.

The capital budget changes are necessary to maintain effective financial management.

The provisional outturn position on council controlled budgets is an underspend of £3.831m. In addition there is an underspend of £0.539m on the NHS managed S75 budgets. As mentioned above, subject to approval underspending will release one-off resources and carry-forwards that can be used to help services manage the challenging budget and savings required in 2012/13.