The Executive Lead for Finance and the Executive Head for Finance presented the budget proposals for the business unit to the Board.

The Board questioned whether the reforms for the localisation of council tax benefits and business rates (and the need to develop these proposals in 2012/13 for implementation in 2013/14) and the proposed savings from this would have an adverse impact on delivery.

The Board were advised that although staff reductions would take place the Executive Head of Finance was reasonably confident that there will not be any adverse impact on delivery.

The Board questioned whether there would be any impact on the ability to recover debts following the re-structure of the debt recovery team. The Board were advised that since the original papers had been dispatched there is now no reduction proposed as part of this team.

The Board questioned whether the DAP [Devon Audit Partnership] reduction been agreed. The Board were advised that this has been agreed and was endorsed by the committee in December 2011. There will be a 10% reduction per annum.

The Board sought clarification as to why it was taking longer than 28 days to pay invoices and were concerned that this would have an adverse impact on small local businesses. The Board were advised that a few invoices may take longer to pay and that this would distort the figures that are reported.

Resolved:

1)    That the board recommend to the Mayor the RICC should provide Torbay Council with a subsidy reduction plan for the next 2/3 years once the new Board is established.

To discuss the Revenue Budget 2012/13 Provisional Spending Targets for Finance