Issue - decisions

The Cabinet Member for Finance and the Board Director, Resources submitted a joint report setting out (a) the current forecast outturn position of the Council's Revenue Budget as at the end of May 2014, (b) issues impacting on the Council’s finances, including (i) a loan request from Swindon Commercial Services (SCS) to enable the acquisition of a Can Baler, (ii) a proposed reduction in the maximum limit of the cashflow loan facility to Swindon Commercial Services Ltd. following the reintegration of Swindon Commercial Services (SCS) into the Council, and (iii) the funding of required works in Swindon Town Centre from available “one-off” resources, (c) a proposed change to the Council’s Scheme of Delegations to enable the Board Director, Resources to submit external funding bids, (d) progress of the preparation of a revised Library Strategy, and (e) the current forecast out-turn position for the Housing Revenue Account and the Dedicated Schools Grant.

          Councillor Russell Holland, Cabinet Member for Finance, introduced the report and referred to the success of the work being undertaken to deliver budget savings early for the next Financial Year and how this both strengthened the Council’s financial position and provided capacity to fund the Council’s on-going transformation.

          Resolved – (1) That the Cabinet notes the Projected Out-turn by Service 2014/15, as set out in Table 1 and Appendices 1 and 2 to the joint report.

          (2) That the proposed budget virements, as set out in Appendix 3 to the joint report, be approved.

          (3) That a loan of £280,000 be made to Swindon Commercial Services Ltd to finance the purchase and installation of a can baler for its Recycling facility as referred to in paragraph 6 of the joint report.

          (4) That the maximum limit of the cashflow loan facility to Swindon Commercial Services Ltd be reduced from £2.25m to £1.25m as referred to in paragraph 6 of the joint report.

          (5) That the sum of £88,000 be approved for the deep clean and seal of surfacing in Swindon Town Centre, as referred to in paragraph 7 of the joint report, to be funded from one-off resources.

          (6) That the Council be recommended that –

(a)       the Board Director, Resources be authorised to

(i)              submit applications for external funding which would further the Council’s strategic objectives, and

(ii)             accept the award of external funding which further the Council’s strategic objectives, in consultation with the relevant Cabinet Member,

(b)  the Director of Law and Democratic Services be authorised to amend the Scheme of Delegation accordingly.

          (7) That the proposed work to be undertaken on a detailed needs assessment of the Library service following recent consultation feedback associated with the preparation of a revised Library Strategy, as referred to in paragraph 9 of the joint report, be noted.

          The reasons for the decision and alternative options are as set out in this minute and the report to the meeting.