Issue - meetings
First Quarter Budget Monitoring
Meeting: 28/09/2016 - Policy and Resources Committee (Item 89)
Additional documents:
- Appendix I - First Quarter 2016-17 Revenue Monitoring Strategic Level, item 89 PDF 139 KB
- Appendix II - First Quarter 2016-17 Capital Monitoring post CLT, item 89 PDF 67 KB
- Appendix III - List of investments as at 30 June 2016, item 89 PDF 56 KB
Decision:
RESOLVED:
1)
That the revenue position at the end of the first quarter and the
actions being taken or proposed to improve the position where
significant variances have been identified, as set out in table 1,
paragraph 2.8 of the report of the Director of Finance and Business
Improvement be noted;
2)
That the proposed slippage in the capital programme of
£4,526,591 into 2017/18 as detailed in paragraph 2.13 of the
report of the Director of Finance and Business Improvement be
approved;
3)
That the performance of the collection fund and the estimated level
of balances at the year end be noted;
and
4)
That the performance in relation to the treasury management
strategy for the first quarter of 2016/17 be noted.
Minutes:
The Committee considered the report of the Director of Finance and Business Improvement which provided an overview of the capital and revenue budget and outturn for the first quarter of 2016/17 and highlighted other financial matters which may have a material impact on the medium term financial strategy of the balance sheet.
The Director of Finance and Business Improvement drew Members’ attention to Page 33 of the report where there was a projected overspend of £500,000 on temporary accommodation but explained that this would be offset by an increase in car parking income to leave a net overspend of £250,000.
In response to
questions from Members, the Director of Finance and Business
Improvement explained:-
·
that the overall collection of business
rates was not as good as anticipated.
However, there was a factor which had contributed to that shortfall
as the billing for the business rates payable on properties owned
by the council was later than usual and the amounts were not paid
until after the end of the first quarter.
· that two major capital schemes would slip into next year hence the underspend but there was a chain of procurement processes being progressed which would ensure that works start in the new year.
RESOLVED:
1)
That the revenue position at the end of the first quarter and the
actions being taken or proposed to improve the position where
significant variances have been identified, as set out in table 1,
paragraph 2.8 of the report of the Director of Finance and Business
Improvement be noted;
2)
That the proposed slippage in the capital programme of
£4,526,591 into 2017/18 as detailed in paragraph 2.13 of the
report of the Director of Finance and Business Improvement be
approved;
3)
That the performance of the collection fund and the estimated level
of balances at the year end be noted;
and
4)
That the performance in relation to the treasury management
strategy for the first quarter of 2016/17 be noted.
Voting: For: 15
Against: 0 Abstentions:
0