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1st Quarter Budget Monitoring Report
Meeting: 10/09/2019 - Strategic Planning and Infrastructure Committee (Item 59)
59 1st Quarter Budget Monitoring Report PDF 70 KB
Additional documents:
- Appendix 1: First Quarter Revenue and Capital Budget Monitoring 2019/20, item 59 PDF 85 KB View as HTML (59/2) 61 KB
- Appendix 2: First Quarter Key Performance Indicators Update 2019/20, item 59 PDF 82 KB View as HTML (59/3) 60 KB
Minutes:
The Interim Head of Finance explained that, by the end of the financial year, an overspend of £459,000 was forecasted for the revenue budget. This was primarily due to a fall in income from Major Planning Applications and Parking Services. With regards to the capital budget, the Bridges Gyratory Scheme was on course to be delivered by 2019/20, while the Mall Bus Station Redevelopment Scheme was expected to slip to 2020/21. Therefore, a slippage of £1.336m was anticipated. The Information and Corporate Policy Officer highlighted that all KPIs attributable to the SPI Committee had achieved the Quarter 1 target and outlined the status of open enforcement cases.
The Committee commented that parking provision could be considered as a 24-hour operation. This approach had the potential to generate revenue during the day and then contribute to residential parking overnight.
In response to questions from the Committee, Officers said that:
· The income from Parking Services was a known pressure. This was to be taken into consideration during the annual financial planning exercise.
· An assessment of enforcement cases was to be incorporated into the Quarter 2 Budget and Performance Monitoring Report. This was to highlight whether the number of outstanding enforcement cases had increased or decreased compared to the previous quarter.
· The income from Major Planning Applications was expected to increase in 2021/22, following the Local Plan Review.
· Officers had identified a potential issue with the coding of income from planning applications. This was to be investigated and the findings were to be included in the Quarter 2 monitoring report.
RESOLVED: That:
1. The Revenue position at the end of the Quarter 1 and the actions being taken or proposed to improve the position, where significant variances have been identified, be noted.
2. The Capital position at the end of Quarter 1 be noted.
3. The Summary of Performance for Quarter 1 for Key Performance Indicators be noted.