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Member Induction Briefing County Council Finances 8 May 2013

Member Induction Briefing County Council Finances 8 May 2013. Patrick Birch – Director of Resources Sean Pearce - Head of Corporate Financial Strategy . Introduction. Revenue Budget 2013/14 Funding Revenue Expenditure Reserves and Balances Capital Programme Medium Term Financial Plan

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Member Induction Briefing County Council Finances 8 May 2013

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  1. Member Induction Briefing County Council Finances 8 May 2013 Patrick Birch – Director of Resources Sean Pearce - Head of Corporate Financial Strategy

  2. Introduction • Revenue Budget 2013/14 • Funding Revenue Expenditure • Reserves and Balances • Capital Programme • Medium Term Financial Plan • Future Fit/BOLD • Summary

  3. Net Revenue Budget 2013/14 - £341.0m (Gross spend inclusive of specific grants £753m)

  4. The County Council’s financial starting point Budget requirement & funding sources 2013/14

  5. The County Council’s financial starting point • The County Council start from a relatively strong position for the financial challenges ahead due to: • General Balances anticipated to be around £15 million by end of 2013/14; • Earmarked Reserves for future committed spend in excess of £80 million by end of 2013/14 • We have delivered efficiencies and savings of £51.9m under the BOLD programme to date: • 2011/12 £31.0m • 2012/13 £20.9m • We are at an advanced stage of planning to deliver savings of £20.1m in 2013/14

  6. Future Fit – Delivery Achievements • Review of Public Transport Provision – Savings of £2.5m realised primarily through reduction in service frequency and minimising service cuts.  • Revised Terms and Conditions (People Initiatives) – ground-breaking local agreement with Trade Unions, implementing a range of changes to T&Cs that will eventually save over £5m p/a (£2.6m by 13/14) • Youth Services - £1.4m saved as WCC ceased running a traditional 'Youth Service' and moved to local commissioning from April 2012. . • Streamlining Management and Staff Reductions – over 2011/12 and 2012/13 years 74 FTE management posts and 508 FTE posts in total have been deleted • Domiciliary Care Project - £1.5m savings delivered to date, 160,000 hours of internally provided home care transferred to the external market, 345 service users transferred to external market, reduction in headcount of 190.7 FTE • Overheads – streamlining of central support services and leaner processes are on target to deliver savings of £6m (27%) by end of 2013/14

  7. Capital Programme 2012/13 to 2015/16

  8. MTFP Key Issues Looking Forward Increases included in the Plan: • £3m per year growth for Adult Social Care demographic cost pressures • Contractually bound or inescapable inflation added to budgets, pay inflation capped at 1% in line with Government planning • Spending pressures on Children's Safeguarding £1m 14/15 • Council Tax Increase assumed in MTFP model at 2.0% per year • £1m 14/15 and £2m 15/16 and 16/17 headroom for Strategic Initiatives • Further potential risks • Further government grant reduction – current spending round to be published June 2013 for 2015/16, Comprehensive Spending Review 2016/17 onwards • Additional Waste Disposal costs arising from Landfill Tax • Risk of further increases to Children's Safeguarding costs • Localised business rates

  9. Medium Term Financial Plan

  10. Future Fit Programme Savings Plan (1/2)

  11. Future Fit Programme Savings Plan (2/2)

  12. Summary • Anticipate budget remaining around £300 million • Anticipating £20 million (6%) expenditure reductions each year to meet cost of demographic pressures, inflation and new demands • Big changes to services necessary to meet the priority needs of citizens within these future resource constraints

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