The Performance & Finance Overview & Scrutiny Board had an opportunity recently to carry out pre decision scrutiny of the Council budget for 2012/13. They invited the other Overview & Scrutiny Board Chairs and Vice Chairs to the meeting, which was held on 13th February, to enable a more inclusive discussion of the budget proposals before they went to Cabinet later that day and to Council on 20th February. The meeting was well attended, with all the Overview & Scrutiny Boards being represented. Councillors had the opportunity to put questions to the Cabinet Member for Finance, Councilor Stuart Rice, and to the Head of Finance.
The Board had been given the reports on the Capital Budget & Programme 2012/13 – 2015/16, Revenue Budget 2012/13, Medium Term Financial Plan 2013/14 – 2015/16, Treasury Management Strategies Prudential Indicators Investment Strategy & Minimum Revenue Provision Policy Statement 2012/13 and the Housing Revenue Account – Revenue Budget 2012/13 & Capital Budget 2012/13 – 2014/15. These reports can be found here.
Topics that were discussed included:
- Sale of school land
- Unsupported borrowing
- Contingency Fund
- Capital maintenance backlog
- Schools protection
- Insurance Reserves
- Leisure centre subsidy
- Budget reporting
- ER/VR scheme
- Council Tax freeze
- Wales National Pool
- Music Service
- Bus subsidies
- Community safety
- Housing Revenue Account under spend
- Eurozone crisis and its effect on the investment strategy
- Inflation
The meeting had to adjourn at 2 pm to avoid clashing with the Cabinet meeting and it reconvened on 16th February to resume and concluded its deliberations. The comments and questions raised by the Board were encapsulated in a letter from the Chair, Councillor Darren Price, to the Cabinet Member for Finance. This will be included in the next Board agenda and will be available here in due course.
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