Agenda item

Joint report of the Chamberlain and Director of Community & Children’s Services.

Members received a joint report of the Chamberlain and the Director of Community and Children’s Services in respect of the latest approved budget for the Revenue and Capital Budgets.  Members were asked to note the increase in the employee budget and repairs and maintenance, and the explanations thereon.  The Chamberlain also drew Members attention to an error in the report in that the number of commercial bays with Deutsche Bank was 23 and not 15. 

In response to questions the following points were noted:

• In response to a written query, the Chamberlain stated that capital charges are levied on the City’s assets based on a calculation that charged a proportion of the latest valuation of properties to revenue annually. Members noted that, in accordance with standard recommended accounting practice, some fluctuations in the capital charge was usual following the annual revaluation of assets.

• Officers agreed to make enquiries as to the status of the current planning permission, in respect of the use of surplus bays for commercial car parking, and would provide an update to the Charging Policy for Car Parking and Stores Working Party and in the next formal report to the RCC/BRC.  Members noted that business rates were payable on commercial car park spaces. 

• If the Turret public lift was taken out of service, it would be for as short a time as possible and would follow consultation. 

RESOLVED, That – the Revenue and Capital Budgets – Latest Approved Budget for 2018/19 and Original 2019/20 be noted  prior to its recommendation to the Barbican Residential Committee on 10^th December 2018.