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Issue - meetings

Third Quarter Budget Monitoring Report

Meeting: 14/02/2018 - Policy and Resources Committee (Item 160)

160 Third Quarter Budget Monitoring Report pdf icon PDF 208 KB

Additional documents:

Minutes:

Mr Mark Green, the Director of Finance and Business Improvement, introduced the Third Quarter Budget Monitoring Report to the Committee.

 

Mr Green outlined the areas with the greatest overspends and underspends:

 

·  Overspends had occurred in cash investments, Temporary Accommodation and CCTV. However the overspend on Temporary Accommodation had reduced since the previous quarter.

·  Underspends had occurred in Grounds Maintenance due to the success of the commercial service being offered, Commercial Property due to investments performing well and Parking Services.

·  Overall this meant there was a projected underspend of £505,000 for 2017/18.

 

In response to a question from the Committee, Mr Green confirmed that it was difficult to ensure a high return from cash investments as the returns needed to be balanced against the security of the investment. Mr Green confirmed that the budget for this item would be adjusted for 2018/19 to reflect the lower than expected returns in 2017/18.

 

The Committee noted the staff turnover rate of 11%, as well as comments made in other budget lines regarding vacant posts and staff sickness and requested that Employment Committee investigate this issue further. Mrs Alison Broom, the Chief Executive, confirmed that the Employment Committee already considered a regular report regarding the workforce which contained more information about these issues and this report would be circulated to any member of the Committee that requested it.

 

RESOLVED:

 

1.  That the revenue position at the end of the third 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 2.6 are noted.

 

2.  That the capital position at the end of the third quarter is noted.

 

3.  That the performance of the Collection Fund and the estimated level of balances at the year-end is noted.

 

4.  That the write-off of unpaid business rates as set out in Appendix 3 is approved.

 

5.  That the performance in relation to the Treasury Management Strategy for the third quarter of 2017/18 is noted.

 

Voting: Unanimous

 

6.  That the Employment Committee:

 

a.  Reviews the Maidstone Borough Council sickness policy to ensure it follows best practice

b.  Considers the support provided by the Council for staff with Mental Health issues

c.  Considers the causes of Mental Health Issues in the workplace

 

Voting:  For - 11  Against - 3  Abstentions - 1