Meetings

Nicola Callow outlined the Assembly’s financial position and the corporate investment fund available for investment in the 2015-16 and 2016-17 financial years. The figures had been compiled to release the maximum funding possible and used the latest staff forecast information available, taking into account the agreed funds for EFM projects and ICT’s development fund, but setting aside a ring-fenced budget for election related expenditure. Nicola also outlined assumptions that had been made including the effect of external factors, such as the future Spending Review and Employer National Insurance changes. The two biggest risks concerned the lack of contingency in the figures and the assumption that the 2016-17 budget would be the same cash figure as 2015-16.

A calculation had been made on the total costs of the additional resources that had been requested by each service area. The potential costs were compared with the available investment fund year on year. In theory, and based solely on those calculations, it looked as if it would be possible to afford the proposals put forward.  However, each proposal would need to be considered extremely carefully as spending on staffing would give far less flexibility for other investment spending opportunities in future.

The Investment and Resourcing Board were looking carefully at investment expenditure for 2014-15, in particular in ICT and Estates where there was considerable flexibility, to manage the financial position and ensure it comes in under budget at the end of March 2015. Nicola advised that a supplementary budget motion was being prepared to go to Plenary in February to adjust the Annually Managed Expenditure for the Members' Pension scheme.