PAPER E
|
SCRUTINY COMMITTEE - 27 JULY 2006 ENQUIRY
INTO USE OF COUNCIL RESERVES - SC05/06 REPORT OF THE DIRECTOR
OF POLICY, PERFORMANCE AND PARTNERSHIPS AND DEPUTY CHIEF EXECUTIVE |
REASON
FOR CONSIDERATION
To
consider action to be taken with regard to the Committee’s enquiry into the use
of Council Reserves.
|
ACTION REQUIRED BY THE COMMITTEE Option 2 - To terminate the enquiry into the use of
the Council’s Reserves as a separate enquiry but include the issue as part of
the enquiry into 2006/07 Revenue Budget Efficiencies SC08/06. |
BACKGROUND
The
Committee, at its meeting on 23 March 2006, agreed the scoping document for an
enquiry into the use of the Council’s reserves. A copy of this is attached as
Appendix 1 to this report.
At
that meeting the Chief Financial Officer together with the Cabinet Member for
Resources, Audit and Efficient Council and Customer Champion provided members
with the figures for the Council’s reserves and balances up to March 2009. This
information was noted.
The
Committee has also agreed, at its meeting on 20 April 2006, the scope of an
enquiry into the 2006/07 revenue budget efficiencies SC08/06. Given the inter
relation between the two items it has been suggested that the use of Council
reserves could be assimilated into the revenue budget enquiry.
FINANCIAL
AND LEGAL IMPLICATIONS
It
is not anticipated that there will be any financial or legal implications
arising from an enquiry but this will be reviewed if the enquiry is re-scoped.
Any enquiry will have manpower implications, particularly for the Overview and
Scrutiny Team but this will be managed within the overall work priorities
OPTIONS
1)
To terminate the enquiry
into the use of Council Reserves, SC05/06, as set out in Appendix 1 and take no
further action.
2)
To terminate the enquiry
as set out in Appendix 1 but ensure that the issues are taken into account when
taking evidence in relation to the 2006/07 Revenue Budget Efficiencies SC08/06.
3)
To continue with the
enquiry as set out in the scoping document.
APPENDICES
ATTACHED
Appendix 1- Scoping Document agreed at the 23 March 2006
meeting.
Agenda and minutes of the Scrutiny Committee held on 23
March 2006.
Contact
Point : Paul
Thistlewood, Overview
And Scrutiny Team, ' 823285,
e-mail paul.thistlewood@iow.gov.uk.
Director of Policy, Performance and Partnerships and
Deputy Chief Executive
|
RESPONSIBLE
BODY Scrutiny Committee |
||
|
ENQUIRY
NAME Use of Council’s Reserves |
REFERENCE
NUMBER SC/05/06 |
|
|
OUTLINE OF
ENQUIRY To clarify the Council’s
balances and reserves for 2006/07 following the setting of the Council
budget. |
||
|
REASON
FOR ENQUIRY To ensure that the balances contained within the
Council’s reserves are sufficient following the Council budget for 2006/07
and subsequent years. |
||
|
PROPOSED
OUTCOME/S To ensure that the
Council’s balances and reserves provide an adequate financial cushion
commensurate with known and anticipated financial risks. |
||
|
TERMS OF
REFERENCE Council’s Financial Procedure Rules CIPFA Standards of Professional Practice Budget report to Full Council 22 February 2006 Annual Audit and Inspection Letter – Accounts and
Governance What will not be included Any specific service
revenue budget |
||
|
KEY
STAKEHOLDERS Council’s Chief Financial
Officer Cabinet Member for
Resources, Audit, Council Efficiency and Customer Champion |
||
RELEVANT
AIM HIGH-CORPORATE AND/OR COMMUNITY STRATEGY/IES
Aim High: To be a High Performing, Cost Effective Council |
||
LEAD MEMBER
|
||
OFFICER
INVOLVEMENT
Lead
Link Officer: Overview
and Scrutiny Team: |
||
DATE OF
INITIATION
|
PROPOSED
DATE OF COMPLETION
|
|