Contact: Nick Gibbins, ext 7544

1. Summary

1.1 Policy and Resources revised budget for 2004/05 approved in January includes savings to be identified of £197,000 to contain spending within the cash limit. This report identifies savings of £127,000 against the revised budget requiring further savings of £70,000 to be achieved prior to closure of the accounts.

1.2 Capital expenditure for the year is likely to be close to the forecast of £203.1m. Following completion of the major disposals at Binfields, capital receipts for 2004/05 will also be broadly in line with the forecast reported to the Cabinet in February.

1.3 The following decisions are sought:

i) to note the current position on the monitoring of the revenue budget and capital programme and the action being proposed

ii) to approve the proposed rephasing of the Capital repairs programme, increasing the 2004/05 programme by £1.8m to £17.8m with compensating variations in the programmes for 2005/06 to 2007/08

iii) to agree the use of second homes income received in 2004/05 relating to the Eastleigh area to fund a special housing occupational therapist post for a three-year period

iv) to approve the carry forward of schemes in the 2004/05 capital programme, subject to the cost of the schemes being accommodated within the approved programme limit.

2. Reason

2.1 Regular service budget monitoring reports are submitted to Executive members to review whether any action is required to contain spending within cash limits and ensure that resources are utilised effectively.

2.2 Decisions on the Policy and Resources revenue budget and capital programme impact on the financial resources used by central services to support all other County Council services and as such relate to all the Corporate strategy aims:

· Maximising life opportunities

· Stewardship of the environment

· Achieving economic prosperity

· Building strong and safe communities

· Improving services

· Developing Councillors and staff.

3. Other options considered and rejected

3.1 Not applicable.

4. Conflicts of interest declared by the decision maker or a member or officer consulted

4.1 Not applicable.

5. Dispensation granted by the Standards Committee

5.1 Not applicable.

6. Reasons for the matter being dealt with if urgent

6.1 Not applicable.

Approved by: (signature) Date: (date of decision)

Councillor T K Thornber