Agenda and minutes

None.

Members are asked to consider any Pecuniary and Non-Pecuniary Interests they may have to disclose to the meeting in relation to matters under consideration on the Agenda.

None declared.

Resolved: - That the minutes of the meeting held on 8 January 2015 be confirmed and signed by the Chair.

County Councillor Bill Winlow, Chair of the Executive Scrutiny Committee, reported that the Executive Scrutiny Committee was grateful for the opportunity to be fully engaged in the budget process at an early stage.  No alternative proposals were tabled, however, it was stressed that the impact on Adult Social Care and Public Transport would need to be carefully considered and risk mitigated wherever possible.

Resolved: - That the report of the Chair of the Executive Scrutiny Committee, now presented, be noted.

Steve Edwards, BT gave a presentation on progress in relation to Superfast Broadband across Lancashire.

Resolved: - That the presentation be noted.

The Deputy Leader of the County Council presented a report on the County Council's financial position for 2014/15.  The report highlighted the high risk financial issues facing the authority, together with appropriate action.  It also set out the County Council's likely financial position at the end of the financial year and assessed the over financial outlook.

Resolved: - That,

(i)  the forecast position for the 2014/15 revenue budget and capital investment programme be noted;

(ii)  the use of the funds arising from the one off extra-ordinary position on the capital financing budget and the release of £1.7m from the Strategic Investment Reserve, as part of the Cabinet's overall consideration of the 2015/16 to 2017/18 revenue position and future capital investment programme be approved.

Items 7 and 8 on the agenda were taken together.

A report was presented providing Cabinet with an update on the Revenue Budget 2016/17 to 2017/18 as a result of:

·  The ongoing review of costs, resources and risks on the revenue budget

·  The receipt of the final council tax surplus position on the collection fund

·  The availability of additional council tax resources, and

·  The availability of additional one-off resources

The County Treasurer advised on the robustness of the estimates within the revenue budget and the level of reserves and provisions held by the County Council. Cabinet was informed that the estimates were robust, and that the level of reserves and provisions held by the County Council were appropriate, given the level of risk to which the County Council is exposed. However, given the financial challenge ahead, it was vital that the County Council has access to one-off resources for risk management purposes and to deliver the investment needed to ensure a "safe-landing" over the next three years as the Council downsizes significantly.

In relation to the Capital Investment Programme 2015/16 and beyond, given the announcement in the Local Government Finance Settlement of a number of long term capital grants and the continuation of budgetary provision for vehicle replacement, Cabinet was asked to consider recommendations to the Full Council which incorporated these resources into the capital programme.

Cabinet was advised that whilst the practice of passporting resources to the relevant service in order to meet known demands, there remains a risk both in terms of future demand and resources which should be considered in framing the County Council's overall budget covering both revenue and capital spending.

Resolved: -

1.  To note the update on the Council's position for 2015/16 and future years following the publication of the final Local Government Finance Settlement for 2015/16 on 3 February 2015, and the receipt of final information from the City and Borough Councils with regard to:

·  The council tax base

·  The Council's estimated share of business rates

·  The Revenue Support Grant

·  The New Homes Bonus grant, and

·  The surplus on the business rates collection fund.

2.  To note the impact of this on the Council's resources to support the revenue budget as set out below:

3.  To note that the surplus on the business rates collection fund of £0.426m for 2014/15 increases the total one off revenue resources available to support the 2015/16 budget from £5.964m to £6.390m.

4.  To note specifically that the Council will receive additional revenue support grant in 2015/16 of £1.548m as a result of the government providing £74m nationally to upper-tier authorities "to recognise that Councils have asked for additional support, including to help them respond to local welfare needs and to improve social care provision". To note that the funding previously received by the Council for the  ...  view the full minutes text for item 8.

A report was presented outlining the Treasury Management Policy Framework for 2015/16, which is reserved for approval by Full Council.

Resolved: - That,

  (i)  the Treasury Management Policy as set out at Appendix 'A' be recommended to the Full Council for approval;

  (ii)  the Treasury Management Strategy for 2015/16 as set out at Appendix 'B' be recommended to Full Council for approval;

 (iii)  In respect of the Minimum Revenue Provision Statement for 2015/16, set out at Appendix 'C', Full Council be recommended to:

a.  approve the Capital Financing Requirement method and the Asset Life method (Equal Charge approach) for expenditure funded from borrowing incurred in 2015/16 and future years.

b.  approve charges to revenue a sum equal to the repayment of any credit liability.

c.  approve the proposed treatment of assets constructed under the Preston, South Ribble and Lancashire City Deal and Homes and Community Agency Local Infrastructure Fund, subject to annual review.

d.  approve the basis for repaying the debt incurred as a result of the refinancing of the Waste PFI contract.

Resolved: - That the report, now presented, on Key Decisions taken by the Leader of the County Council, the Deputy Leader of the County Council, the Cabinet Member for Highways and Transport, the Cabinet Member for Children, Young People and Schools, the Cabinet Member for Adult and Community, and the Interim Executive Director for Environment, respectively, be noted.

Resolved: - That the report, now presented, on the waiver of procurement rules by the Deputy Leader of the County Council, be noted.

An item of urgent business may only be considered under this heading where, by reason of special circumstances to be recorded in the Minutes, the Chair of the meeting is of the opinion that the item should be considered at the meeting as a matter of urgency.  Wherever possible, the Chief Executive should be given advance warning of any Member’s intention to raise a matter under this heading.

There was no urgent business to be considered.

The next meeting of the Cabinet will be held on Thursday 5 March 2015 at 2.00 pm at County Hall, Preston.

The Cabinet noted that the next meeting would be held on Thursday 5 March 2015 at 2.00pm at County Hall, Preston.