Issue - meetings

The report of the Executive Manager – Finance and Corporate Services.

It was RESOLVED that:

a)    the projected revenue position for the year,  with a minor 0.6% variation (£63,000) in the revenue position (due to the expected business rates position), be noted.

b)    the capital underspend of £10,237,000 as a result of capital scheme re-phasing and projected savings, be noted.

The Portfolio Holder for finance presented the report of the Executive Manager – Finance and Corporate Services which provided the Council’s budget position for revenue and capital as of 31 July 2018. It was noted that the report was considered by the Corporate Governance Group on 20 September 2018 with no significant issues raised.

The report noted that the financial position of the Council was relatively stable with revenue efficiencies and additional grant income of £98,000 offset by a slightly worse than anticipated business rates position of £161,000. It was also noted that the Council had a net position of £63,000 that represented a 0.6% variation against the net expenditure budget.

The Portfolio Holder for Finance in moving the recommendations, noted that Streetwise had incurred costs of £56,000 that was primarily due to the increase of fly tipping, that planning applications had generated £75,000 of income, and the green waste bin scheme had generated £40,000 of income. The Portfolio Holder praised the finance team thanked the Executive Manager – Finance and Corporate Services for ensuring that the financial position of the Council was stable.

In seconding the recommendations Councillor Mason praised the Council’s budget position for revenue and capital and believed that the Council was in a good position to deal with challenges in the future.

It was RESOLVED that:

a)    the projected revenue position for the year,  with a minor 0.6% variation (£63,000) in the revenue position (due to the expected business rates position), be noted.

b)    the capital underspend of £10,237,000 as a result of capital scheme re-phasing and projected savings, be noted.

REASON FOR DECISIONS

To demonstrate good governance in terms of scrutinising the Council’s ongoing financial position and compliance with Council Financial Regulations.