Agenda item

A joint report of the Chamberlain and the Director of Open Spaces.

The Group Accountant introduced a joint report of the Chamberlain and the Director of Open Spaces on revenue and capital budgets for 2014-15, noting that the report had been prepared in line with guidelines set by the Policy and Resources and Finance Committees. She added that a three-year allocation of City Bridge Trust (CBT) funding was due to end in March 2014 but that it was anticipated that a fresh three-year allocation of £252,000 would be applied for, and that the figures within the report took this into account. Moreover she noted that and additional £80,000 had been allocated to the budgets to mitigate the loss of the current CBT funding.

She continued by reporting that in respect of the Additional Works Programme works that it was anticipated would not take place in 2013/14 had been rolled forward until 2014/15, and that these had been add to the bids for 2014/15 which had been approved by the Corporate Asset Sub Committee and were awaiting approval from the Resource Allocation Sub Committee. The proposals would be resubmitted to the Hampstead Heath, Highgate Wood and Queen’s Park Committee in the event of any major changes being made. She concluded by noting that the forecast 2013/14 outturn figures were in line with the budgets.

In response to a question from a member the Group Accountant confirmed that the summary figures on the first page of the report took into account the issues outlined in paragraph seven on pages three and four of the report.

RESOLVED, that –

·         The committee had reviewed the provisional 2014/15 revenue budget to ensure that it reflected the committee’s objectives and approved its submission to the Finance Committee;

·         The committee had reviewed and approved the draft capital budget;

·         The Chamberlain be authorised, in consultation with the Director of Open Spaces, to revise these budgets to allow for any further implications arising from Corporate Projects, departmental reorganisations and other reviews and changes to the Additional Works Programme.