The Lead Member for Finance and Ascot introduced the latest financial update report.

Cabinet were informed that the £3.5 million previously reported by the then Lead Member for Finance, Cllr Saunders,  back in February 2019 had now been transferred into the accounts.  After further movement such as additional redundancy costs left reserves at £10,133,000 which was the highest the Lead member could remember.

Although reserves were healthy there would be calls upon them such as the 24 hour pot hole pledge and Heathrow legal challenge.  The Lead Member said that it was important to retain reserves at this level to help protect statutory services.  Cabinet were informed that there was a recommendation for revenue budget of £41,000 for the MAKE MAIDENHEAD marketing strategy, £31,000 is revenue costs and £10,000 is a capital programme budget.

The Chairman informed that the Make Maidenhead brand would replace Enjoy Maidenhead and Maidenhead Regen as the overarching brand for the town.  Twitter and Facebook would be transferred in September 2019 with a new website in place in time for the Christmas lights switch on.

The Lead Member for Finance went on to explain that there were also recommendations for capital programme budget addition of £100,000 for the Oaks Leisure centre project, £121,000 from the Pothole Action and Flood Resilience Fund and £74,000 for Parks improvement works funded by MHCLG grant.  Two risks had been identified relating to placements, particularly learning disability, and legal costs arising from complex court cases.  These were being mitigated by the service areas.

Resolved unanimously:  that Cabinet notes the report and:

i)     Notes the council’s projected outturn position for 2019-20.

ii)    Approves a revenue budget of £41,000 for the MAKE MAIDENHEAD marketing strategy, £31,000 is revenue costs (of which £10,000 is recurring) and £10,000 is a capital programme budget, see paragraph 4.12 .

iii)   Approves a capital programme budget addition of £100,000 for the Oaks Leisure centre project, see paragraph, 4.16.

iv)   Approves a capital programme budget addition of £121,000 from the Pothole Action and Flood Resilience Fund, see paragraph 4.17.

v)    Approves a capital programme budget addition of £74,000 for Parks improvement works funded by MHCLG grant, see paragraph 4.18.