Cabinet Member for Finance

Cabinet considered the report of the Head of Finance and above Cabinet Member which showed the revenue and capital projected outturn for 2014/15 as at the end of period nine, covering the period from April to December 2014.

The Cabinet Member for Finance introduced the report and explained that the revenue underspend on services of £867,600 was largely due to two items; the waste collection contract, which had delivered a welcome additional saving towards the 2015/16 budget; and additional planning fee income of £214,000 that reflected the high level of major planning applications.  Whilst the January 2015 figure was much higher it is clear that this was a one-off and not a recurring income.  He considered that the waste contract had been a major success with savings approaching £1 million per year, and the number of high planning applications reflected that Swale was a business friendly Borough.

There was some discussion about Members’ Localism Grants and the reasons why some Members had not allocated all of their funding.  It was suggested that the application form should include a deadline for returning the form.

RESOLVED:

(1) That the projected revenue underspend on services of £867,600 and the proposed rollover of specific and other grants of £148,700 for 2014/15 be noted.

(2) That the projected capital underspend for 2014/15 of £153,384 be noted, and the additional capital funding to Sittingbourne War Memorial – additional £7,470 from capital receipts be approved.