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APPENDIX 1 – FIRST QUARTER BUDGET MONITORING
 

 

 


Contents

 

Part A: First Quarter Revenue Budget 2023/24

    

A1)    Revenue Budget   

A2)    Significant Variances                                           

                                                                 

Part B: First Quarter Capital Budget 2023/24     

B1)    Capital Budget  

B2)    Significant Variances                                                          

 

 

 

 

 

                                                  

Part A - First Quarter Revenue Budget 2023/24A1)  Revenue Budget: Housing, Health & Environment (HHE) PAC

A2.1  The table below provides a detailed summary of the budgeted net expenditure position for the services reporting directly into HHE PAC at the end of Quarter 1. The financial figures are presented on an accruals basis (i.e. expenditure for goods and services received, but not yet paid for, is included).

A2.2  This table now shows the variance split between expenditure and income to give more of an insight into the nature of the variance.

 

 

HHE Revenue Budget: NET EXPENDITURE (@ 1st Quarter 2023/24)

 

 

 

By Cabinet Member

 

 

 

A2)  HHE Revenue Budget: Significant Variances

A2.1  Within the headline figures, there are a number of both adverse and favourable net expenditure variances for individual cost centres. It is important that the implications of variances are considered at an early stage, so that contingency plans can be put in place and, if necessary, be used to inform future financial planning.  Variances will be reported to each of the Policy Advisory Committees on a quarterly basis throughout 2023/24.

A2.2  The table below highlights and provides further detail on the most significant variances at the end of Quarter 1.

HHE PAC Variances (@ 1st Quarter 2023/24)

                                   

 

Positive Variance

Q4

Adverse

Variance

Q4

Year End Forecast Variance

 

Housing, Health & Environment

£000

Homeless Temporary Accommodation – The ongoing economic crisis means that demand for this service continues to be high. Properties are continuing to be purchased to provide further accommodation which should reduce costs going forward.

 

-229

-818

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Part B - First Quarter Capital Budget 2023/24B1)  Capital Budget 2023/24 (@ 1st Quarter 2023/24)

 

 

B2)  Capital Budget Variances (@ 1st Quarter 2023/24)

 

Housing, Health & Environment

Private Sector Rented Housing/1,000 Homes Affordable Housing Programme - A number of schemes are at various stages of development at present, and further land/property acquisitions are likely to take place before the end of the financial year. Some schemes will also contain elements of both private rented and affordable housing so the costs may change depending on the mix at the sites where this happens.

 

Flood Action Plan - The flood action plan budget was set up to allow the Council to deliver, or contribute towards, schemes that would mitigate flood risk.  At this stage, the only schemes that have been identified have been small scale natural flood management schemes.  Officers are discussing with counterparts in the Environment Agency, Kent County Council and the Upper Medway Internal Drainage Board what can be done to promote appropriate and practical schemes in the future.