Agenda item

A report by the Executive Director Finance and Public Protection had been circulated.

It was moved, and seconded

That the County Council:

1.    Note the carry forwards set out in paragraph 1.2 and 1.3  of the report, which were made in line with the Council's Financial regulations, and approve the Adult Care underspend up to 1% which was not to be carried forward as part of the Adult Care budget but was added to the underspends above 1% for the purposes of recommendation 2 below.

2.    Approve the proposed carry forwards of over and underspending in excess of 1% as set out in paragraph 1.4 of the report.

3.    Note the transfers to and from reserves summarised in Table A of the report and the position of earmarked reserves as at 31 March 2015 summarised in Table B of the report.

4.    Note the position in relation to general reserves set out in paragraph 1.8 and Table C of the report.

5.    Note performance against the Prudential Indicators for 2014/15 as set out in paragraphs 1.9 and 1.10 and Table D of the report.

Notice of one amendment was received.

An amendment was moved and seconded by the Labour Group as follows:

Recommendation 3

After Table A of this report add 'as amended'

After Table B of this report add 'as amended'

Paragraph 1.4

Point 1 amend £12.415m to £10.415m

Create point 3 to read 'Create an earmarked reserve of £2m to meet in-year budget pressures in relation to social welfare needs'

Amend Table A to include under Other Earmarked Reserves - Social welfare needs -£2,000,000 and a reduction to the Financial Volatility Reserve - £9,372,195

Amend Table B to include under Earmarked Reserves - Social welfare needs -£2,000,000 and a reduction to the Financial Volatility reserve £29,632,000

And amend totals in each Table accordingly

Upon being put to the vote, the amendment was lost.

A vote was then taken on the original motion, and upon being put to the vote it was

RESOLVED

1.    That the carry forwards set out in paragraph 1.2 and 1.3 of the report, which were made in line with the Council's Financial regulations be noted and the Adult Care underspend up to 1% which was not to be carried forward as part of the Adult Care budget but was added to the underspends above 1% for the purposes of recommendation 2 below be approved.

2.    That the proposed carry forwards of over and underspending in excess of 1% as set out in paragraph 1.4 of the report be approved.

3.    That the transfers to and from reserves summarised in Table A of the report and the position of earmarked reserves as at 31 March 2015 summarised in Table B of the report be noted.

4.    That the position in relation to general reserves set out in paragraph 1.8 and Table C of the report be noted.

5.    That performance against the Prudential Indicators for 2014/15 as set out in paragraphs 1.9 and 1.10 and Table D of the report be noted.

NOTE: The Council adjourned for lunch at 12.50pm and re-commenced at 2.00pm.