Issue - meetings

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

The Executive Manager – Finance and Corporate Services provided the Group with an update on the Council’s Revenue and Capital Budget position as at 30 September 2018. The Executive Manager – Finance and Corporate Services advised the Group that overall the Council’s financial position is relatively stable. There are revenue efficiencies and additional grant income of £53,000 which is offset by a slightly poorer business rate position of £133,000. The net position of £80,000 in adverse variances represents a 0.8% variation against the net expenditure budget, which represents a broadly balanced budget overall. £1.17million is expected to be transferred to reserves, so the Council can meet the financial challenges and risks going forward.

The Executive Manager – Finance and Corporate Services added that the Capital Programme shows a planned underspend of £12.064 million as a result of a ‘slow down’ in asset investment and the delay in the Depot operations relocating from Abbey Road.

In conclusion the Executive Manager – Finance and Corporate Services advised that the Council’s overall position for both revenue and capital is positive. However it was noted that opportunities and challenges can arise during the year which may impact on the projected year-end position.

Members asked specific questions relating to the adverse variances in excess of £15,000 and in particular the additional costs incurred by the increase in fly-tipping and what the Council is doing to reduce these costs. Members also requested if they could be provided with a comparison from last year’s costs.

Members who attend PMB stated that it was difficult to target offenders and that the Council were being proactive in those areas most effected. It was noted that the Council had been successful in securing two prosecutions recently.

It was RESOLVED that the Group:

a)    approve the Revenue and Capital Budget Monitoring report;

b)    and that the report is forwarded to Council for approval.