28 Budget Monitoring 2019-20 Quarter 1 - April to June PDF 217 KB
The Portfolio Holder for Corporate Finance and Resources to provide a report to Members to:
1)
advise that as part of the Council’s budget monitoring procedures all budget holders
are asked on a quarterly basis to provide details of service and financial performance.
Copies of the budget holders' returns are available for further information;
2)
advise
that As at 30th June budget holders are
forecasting the following financial position
against their 2019/20 budgets:
General Fund £1,000 Overspend
Special Expenses £0 On Budget
3) advise that in addition to formal Quarterly reporting to Cabinet, the budget position is reported monthly at the Strategic Leadership Team. This is to ensure any early warnings that highlight pressures can be collectively resolved.
Additional documents:
Decision:
DECISIONS
Cabinet NOTED the year end forecast and financial position for the General Fund and Special Expenses at 30th June 2019.
Reasons for decision:
The Council, having set a Budget at the start of the financial year, needs to ensure the delivery of this Budget is achieved. Consequently there is a requirement to regularly monitor progress so corrective action can be taken when required which is enhanced with the regular reporting of the financial position.
Minutes:
In the absence of Councillor
Ronnie de Burle, Portfolio Holder for Corporate
Finance and Resources, Dawn Garton Director for Corporate Services introduced
the report the purpose of which was to report the quarterly budget position to
Cabinet.
Mrs Garton provided a brief
summary of the report confirming that the current forecast was for a break even
position, the budget was regularly reviewed in order to ensure the balanced
position was maintained. It was proposed
that additional investment income of £61k be transferred to a reserve to cover
any future book losses on Property Fund investments.
During discussion the
following points were noted:
DECISIONS (NON-KEY)
Cabinet NOTED the year end forecast and financial position for the General
Fund and Special Expenses at 30th June 2019.
Reasons for decision:
The Council, having set a
Budget at the start of the financial year, needs to ensure the delivery of this
Budget is achieved. Consequently there is a requirement to regularly monitor
progress so corrective action can be taken when required which is enhanced with
the regular reporting of the financial position.