Agenda item

Financial Monitoring Report 2017/18 - Quarter 3

To consider the report of the Director (NE) (reference 18/23) attached

 

Minutes:

The Cabinet considered a report by the Director (NE) (Reference 18/23) in respect of the Council’s financial performance at the end of Quarter 3.  The Director summarised the key messages in the report, noting that despite severe funding cuts the revenue budget for the year was expected to be achieved with a small projected year end surplus.  He also referred to the new five year contract to be negotiated with the County Council for the Borough Council to carry out highway grass cutting, tree works and weed spraying and that a one year supplement of £70k had been allocated in the 2018/19 budget to assist with the delivery of this service to ensure that grass was maintained to a high standard across the Borough despite funding reductions from the County Council.  In reply to a request by Members, the Director, Mr Bradley undertook to provide a detailed assessment of the economic impact on the Borough of the forthcoming Tour de Yorkshire event.

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 £24k is currently expected to be achieved;

·         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 a small number of areas that still require addressing (including some perpetual under achieved budgets).  These will continue to be monitored.

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

ii)            Approve acceptance of the following grants:

 

·           £6k from Ichoosr towards campaign materials to encourage households to switch to cheaper energy providers.

·           £448k from the Environment Agency to fund coastal protection works at Runswick Bay.

·           £50k of funding from the Governments Land Release Fund in order to assist with the remediation of contaminated land for the development at Dean Road Depot.

·           £78k additional funding from the Environment Agency in order to extend the current Scarborough Coastal Risk management Programme by a further two and a half years.

 

iii)       Approve allocation of £15,330 of Section 106 monies to Seamer Parish Council in order to make improvements to the village green.

 

iv)       Note that £206k of the Council’s £5m Coastal Protection budget has been committed to carryout essential repairs and maintenance to the Spa Sea Wall.

 

v)         Delegate authority to Director (NE) to enter into a 5 year contract with North Yorkshire County Council for the delivery of highway grass cutting, tree works and weed spraying.

 

vi)       Approve an increase in the budget for the strengthening of a section of North Wharf from £140k to £159k.  These costs will be funded from existing Scarborough Harbour Reserves and;

 

Provide authorisation to the Director (NE), after consultation with the Portfolio holder for Project Management, Harbours, Coast and Flood Protection, to enter into contract with the preferred Contractor to carry out the works, who has been selected from the Council’s approved list and assessed as offering the most economically advantageous competitive tender.

 

Reasons

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

 

Supporting documents: