Issue - meetings

The Portfolio Holder for Corporate Finance and Resources to submit a report providing financial progress information on the Capital Programme for period 1 April 2019 to 30 September 2019.

Cabinet NOTED the financial position on the Capital Programme to 30 September 2019 and the year-end forecast.

Ronnie de Burle, the Portfolio Holder for Corporate Finance and Resources introduced the report, the purpose of which was to provide financial progress information on the Capital Programme for period 1 April 2019 to 30 September 2019.

Councillor de Burle gave a summary of the report, highlighting that monitoring of actual capital expenditure against authorised expenditure was undertaken on a regular basis and reported to Senior Leadership Team.  Appendices A to D of the report gave details of the spending against budget for all projects up to 30 September 2019.  The General Fund forecasted position was to spend all capital project monies for 2019/20 by year end.  The HRA forecasted position was an underspend by year end.  The forthcoming HRA business plan would inform the spend and budget setting process going forward.

During discussion the following points was noted:

·         The forecasted underspend on the public conveniences was welcomed by Members.

·         Ensuring the Council had a good quality telephony system in place was vital to providing excellent customer service.  The telephony upgrade would support this.

DECISIONS (NON-KEY)

Cabinet NOTED the financial position on the Capital Programme to 30 September 2019 and the year-end forecast.

Reason for decision:

The Council, having set an agreed Budget at the start of the financial year, needed to ensure the delivery of this Budget was achieved.  Consequently there was a requirement to regularly monitor progress so corrective action could be taken when required which was enhanced with the regular reporting of the financial position.

The Portfolio Holder for Corporate Finance and Resources to submit a report providing information on actual expenditure and income incurred on the Housing Revenue Account  (HRA), compared to the latest approved budget  for the period 1 April 2019 to 30 September 2019.

Cabinet NOTED the financial position on the Housing Revenue Account to 30 September 2019 and the year end forecast.

Councillor Ronnie de Burle, Portfolio Holder for Corporate Finances and Resources introduced the report, the purpose of which was to provide information on actual expenditure and income incurred on the Housing Revenue Account (HRA), compared to the latest approved budget for the period 1 April 2019 to 30 September 2019.

Councillor de Burle gave a summary of the report, advising that receipt of the formal business plan for the HRA in January 2020, would enable a more constructive review.  There was a large budget in place but due to maintenance and development projects not being taken forward as planned there was an underspend of £198,917, as at the end of September.  However, there was a potential overspend of £106k predicted for year end.

The Director for Corporate Services advised that the Chief Executive, the Director for Growth and Regeneration and herself had authorised expenditure in line with the Housing Improvement Plan which would amend the authorised budget and expenditure.  There remained other areas where expenditure was needed and weekly meetings with the Finance Section were held on this.  Further information would be provided to Members in the coming months.

During discussion the following point was noted:

·         The income shortfall due to the loss of rent for void properties  prompted comment on the use of the Housing Revenue Account to pay council tax on these properties and if the removal of this discount should be reconsidered.

DECISIONS (NON-KEY)

Cabinet NOTED the financial position on the Housing Revenue Account to 30 September 2019 and the year end forecast.

Reason for decision:

The Council, having set an agreed Budget at the start of the financial year, needed to ensure the delivery of this Budget was achieved. Consequently there was a requirement to regularly monitor progress so corrective action could be taken when required which was enhanced with the regular reporting of the financial position.

The Portfolio Holder for Corporate Finance and Resources to submit a report providing financial progress information on the General Fund and Special Expenses for period 1 April 2019 to 30 September 2019.

Cabinet NOTED the year end forecast and financial position for the General Fund and Special Expenses at 30 September 2019.

Councillor Ronnie de Burle, Portfolio Holder for Corporate Finance and Resources introduced the report, the purpose of which was to provide financial progress information on the General Fund and Special Expenses for period 1 April 2019 to 30 September 2019.

Councillor de Burle gave a summary of the report, highlighting that this provided information on the forecasted outturn for the Council’s Corporate, People and Place service areas.  In addition to quarterly reporting of the budget position to Cabinet, monthly reporting at Strategic Leadership Team meetings ensured that any early warnings of financial pressures could be identified and resolved. 

Councillor de Burle highlighted the charts at paragraph 6.1 of the report, which predicted

      i.        General Fund overspends of £13k on the People Portfolio and £79k on the Place Portfolio and an underspend of £55k on the Corporate Priorities Portfolio, which amounted to a predicted net overspend of £36k.

    ii.        Special Expenses underspend of £31k.

Referring to the Planning Application Fees shortfall of £115k, as detailed at Appendix A of the report, the Director for Corporate Services advised that since writing the report the shortfall had increased and a potential issue had been flagged.  Further discussions were taking place in respect of this.

There were no comments or questions from Members.

DECISIONS (NON-KEY)

Cabinet NOTED the year end forecast and financial position for the General Fund and Special Expenses at 30 September 2019.

Reason for decision:

The Council, having set a Budget at the start of the financial year, needed to ensure the delivery of this Budget was achieved.  Consequently there was a requirement to regularly monitor progress so corrective action could be taken when required which was enhanced with the regular reporting of the financial position.