Decision details

The Director for Corporate Services submitted a report to provide information on actual expenditure and income incurred on this Committee’s services compared to the latest approved budget for the period 1 April 2017 to 31 December 2017 and to submit for approval requests from budget holders to carry forward under spent budgets from 2017/18 to 2018/19.

The Director for Corporate Services explained that finance are currently in the middle of the closedown of the accounts with a requirement to complete the Statement of Accounts by the earlier date of 31 May 2018. Based on the year end forecast using quarter 3 monitoring the estimated year end position for the General Fund is an overspend of £28k, a more or less breakeven position on Special Expenses Melton Mowbray and an underspend on the Housing Revenue Account of £240k. Although it is anticipated that with a number of smaller underspends that it is hopeful to achieve at least a breakeven position on the General Fund.

It was further explained that as part of this report a number of requests to carry forward unspent monies from 2017/18 into 2018/19 totalling £290,750 for General Fund and £6,150 for Special Expenses Melton Mowbray. These carry forwards will have negligible impact on the estimated year end position as it has been assumed they will be carried forward in determining  the forecast position. It was said that with the capacity issues that have been experienced this year more flexibility has been exercised but will be subject to robust challenge if not spent in 2018/19 and a further carry forward requested.

The recommendations were moved by Councillor Orson and Councillor de Burle seconded.

All Members were unanimously in favour.

RESOLVED that:

1) the financial position on each of this Committee’s services at 31 December 2017 be noted along with the year end forecast.

2) the requests set out in Appendix D for budgets to be carried forward from 2017/18 to 2018/19 be approved.

3) once the final year end position is known the actual underspend be compared to the amount requested and the Director for Corporate Services be given delegated authority to amend the actual amount carried forward.