Agenda item

Financial Monitoring to July 2017 (1st Period)

To consider a report of the Director (NE) (Reference 17/192), (this report will be sent to follow). 

Minutes:

The Cabinet considered a report by the Director (NE) (Reference 17/192) which provided an update on the Council’s financial position in relation to the revenue and capital budgets, grants, reserves and income collection for the period April to July 2017.  Members were advised that on the whole the Council’s income and savings targets were being achieved, and the anticipated year end surplus of £273k had given Members the confidence to make the recent decision to continue to support the Tour de Yorkshire event in 2018.  In relation to the proposed extension of the Service Level Agreement with Scarborough Rugby Club to secure community use at this leisure facility for the next 20 years, the Director, Mr Edwards confirmed that this agreement would include the development of four new squash courts for use by the general public at affordable rates.  He also confirmed that in Appendix 2 of the report the budget of £400k allocated for cemetery provision, was for the whole Borough, not Whitby as stated.

RESOLVED that the Cabinet:

i)             Note the report and in particular that:

 

·         Despite the setting of an extremely challenging budget a year end surplus of £273k is currently expected to be achieved;

·         Following Full Council’s decision to approve hosting the 2018 Tour De Yorkshire at its 4 September meeting (report ref 17/188) the £150k anticipated surplus from offstreet car parking outlined within this report will be earmarked to fund this event, reducing the uncommitted year end surplus to £123k;

·         The majority of income targets are being achieved;

·         The majority of savings identified as part of the 2017/18 budget setting process are being achieved but there are some exceptions which still require addressing;

·         The capital programme continues to operate within the overall parameters set in terms of contingency levels;

·         £20k of the Council’s Capital Contingency Reserve balance has been utilised to fund the overspend on the Scarborough Indoor Market refurbishment.

 

ii)         Allocate the following Section 106 monies:

 

·         £27,745 indexation payments to the Eastside Community and Open Space Improvement Programme

·         £11,061 to a community cycle hub at Scarborough Railway station

·         £1,995 to South Cliff Rose Garden

 

iii)       Note that, following the Tidal Surge on 13 January 2017, the Council has raised a claim for costs through the Bellwin scheme with DCLG.  The Government has not yet recognised the tidal surge as a scheme that is eligible for Bellwin support and there is a significant risk that the Council will not recoup all (or any) of the costs that it has incurred.

 

iv)       Delegate authority to the Directors (Nick Edwards and Lisa Dixon), in consultation with the Portfolio Holder for Leisure, Tourism and Culture, to enter into an agreement with the trustees of Scarborough Rugby Union Football Club to secure community use of the facility for a period of 20 years at a cost of £10,000 per annum (with the full amount of £200,000 being paid upfront) and to include the development of four new squash courts.

 

Reasons

To provide information relating to the Council’s financial performance for the 2017/18 year.

 

To ensure the continued provision of high quality facilities to promote health and fitness in the north of Scarborough Town.

 

Supporting documents: