It was reported that, in accordance with the wishes of the Liberal Democrat Group, the membership of the Board had been amended by including Councillor Pountney instead of Councillor Darling.

To confirm as a correct record the minutes of the meetings of the Board held on 18 June 2014.

The minutes of the meeting of the Board held on 18 June 2014 were confirmed as a correct record and signed by the Chairman.

To consider the provisional revenue budget outturn position for 2013/2014 and to make any recommendations to the Council.

The Board considered the provisional outturn position for the 2013/2014 Revenue Budget.  Whilst a balanced budget had been delivered at year-end, it was noted that there had been significant budget pressures particularly within Safeguarding and Wellbeing (Children’s Services) and the achievement of the income target for car parking.

The Executive Head for Finance would be recommending to the Council that a sum of £350,000 be carried forward in the 2014/2015 financial year for the Crisis Support Fund and Hardship Fund.

It was noted that Public Health was funded from a specific grant which could only be used to fund public health related activities but that members had not been involved in determining how this money was spent.

Resolved:  (i)  that the Board review the criteria for the Crisis Support Fund and Hardship Fund and make any recommendations for changes to the Mayor; and

(ii)        that further information be provided on how the public health grant was funded and the outcomes that were achieved as a result.

To consider the provisional Capital Plan budget outturn for 2013/2014 and to make any recommendations to Council.

The Board considered the Capital Investment Plan update report for the fourth quarter of 2013/2014.  It provided high level information on capital expenditure and income for the year.

It was noted that the approved Plan relied upon the generation of £3.4 million receipts from asset sales by the end of March 2016.  It was reported at the meeting that £1.5 million had been generated to date.

The Board asked questions around the Council’s prudential borrowing and the impact of these commitments on the Revenue Budget.

Resolved:  that the Board consider a sample of the business cases for recent prudential borrowing schemes to review whether the business case had been met in terms of financial and other outcomes.