The Lead Member for Finance presented the latest Council’s financial statement for 2017-18 and informed the final 2017-18 update would come to May 2018 Cabinet.

The Lead Member for Finance informed that the main headlines were that it was predicted that the Council remained in a strong financial position with combined general fund reserves of £7,255,000.  This was substantially above the recommended minimal level of reserves and that across the country many authorities were struggling to maintain reserves. 

In addition appendix A showed that we were carrying forward £2,073,000 of capital fund reserves for eventualities that may arise.  The Lead Member outlined by directorate the variances against controllable budget, which were:

There were a number of challenges within the Children’s and Adults Services that the Lead Members and officers had been tasked to resolve.  There had also been adverse movement in Housing Benefit Subsidy.  Cabinet were informed that overall the authorities reserves were very healthy.

The Lead Member for Finance also highlighted two additional recommendations within the report.  The approval of a £250,000 transfer from the Borough Parking budget to the Braywick Leisure Centre budget to enable the early provision of 200 parking places and the implementation of new discounted Advantage Card tariffs in the Magnet and Windsor Leisure Centre car parks. 

When setting the 2018-19 budget the Lead Member for Finance had said that there would be no car parking charges for advantage card holders, it had however come to light that the two leisure centre car parks did not have these discounts as an alternative discount scheme was in operation.  The recommendation would rectify this and the two car parks would receive a 20 percent discount for advantage card holders as well as retaining the existing scheme for leisure centre users. 

The Principal Member for Ascot Regeneration agreed that the Royal Borough’s financial position was remarkable given what other authorities were reporting.  Not only were we in a good position but we continued to support our services such as those for our children and instead of cutting areas such as libraries we Royal Borough were investing.  He wished to thank Lead members and officers for their excellent work.   

The Chairman said that if we did not run an efficient council then we would not be in a position to offer organisations charitable support such as the £50,000 per year to SportsAble over a three year period.

The Lead Member for Maidenhead Regeneration and Maidenhead mentioned that he supported the investment in parking as it would ensure parking in Maidenhead would not be reduced during regeneration works.

The Lead Member for Culture and Communities was pleased to see the parking discounts being extended to the two leisure centres as well as maintaining the existing discount.

The Lead Member for Environmental Services said that a number of businesses in Datchet had benefited from the business rates discounts that had been offered.  He also asked if the Lead Member for Finance felt that the £250,000 for the 200 car parking spaces was sufficient and was informed that it was expected that the final amount would be less but they were being prudent.

Cabinet noted that the administration were investing in services rather than making cuts

The Lead Member for Finance highlighted that the Royal Borough had increased the amount of funding it provided to the third sector whilst other authorities were cutting back on support to charitable and community organisations.

Resolved unanimously: that Cabinet:

i) Notes the Council’s projected outturn position for 2017-18 and mitigating

actions to address service pressures.

ii) Approves a £250,000 transfer from the budget for Borough Parking Provision to the budget for Braywick Leisure Centre as detailed in paragraph 4.20.

iii) Approves the implementation of new discounted Advantage Card tariffs in the Magnet and Windsor Leisure Centre car parks, following the required period of consultation. Further details in paragraph 4.16 and appendix H.