Decision details

(Time: 3.50pm to 3.52pm)

The Executive received and considered report 75/07 of the Strategic Director and Chief Finance Officer regarding the budget setting process for 2008/09.  Following the creation of the finance shared services partnership there was a need to develop common practices across the Council’s and South Oxfordshire District Council’s finance function to ensure operational efficiencies were realised.  A harmonised approach to budget setting was proposed. 

The report set out the four stages of the process:

·        Stage 1 – gathering of base data and the production of a standstill budget

·        Stage 2 – consolidate the standstill budget and share with the Executive

·        Stage 3 – budget proposals issued for consultation

·        Stage 4 – Final budget proposed and approved

It was noted that although the back-office processes were being harmonised between the two Councils, the processes for Member involvement would be unchanged. 

RESOLVED

(a)       that the budget setting process, as set out in report 75/07 and summarised in the timetable at appendix 1, be approved; and

(b)       that authority be delegated to the Head of Finance in consultation with the Portfolio Holder for Finance to develop virement and supplementary estimate procedures appropriate to the budget setting process.