Issue - meetings

The Report of the Executive Manager – Finance and Corporate Services is attached.

The Financial Services Manager presented the report of the Executive Manager – Finance and Corporate Services which highlighted the Council’s quarter two position in terms of financial and performance monitoring for 2019/20. It was noted that the financial position for the year was positive with overall service revenue efficiencies of £390k and business rates providing an additional income of £68k with an overall revenue efficiency position of £454k. The Financial Services Manager stated that the £454k variation represented -3.95% against the net expenditure budget and that the Council anticipated £650k to be transferred to reserves to meet in particular business rates risk going forward and to enable the Council to fund investment to support its climate change agenda.

It was explained that the capital programme showed a planned underspend of £13.530m largely due to sums no longer required such as for Fairham, Abbey Road and the Asset Investment Strategy. In the case of the latter this may be revisited subject to the Council’s position regarding the Crematorium. Furthermore, some projects require sums to be carried forward such as for the Bingham Leisure Hub.

The Service Manager – Finance and Corporate Services was pleased to report that the Corporate Strategy 2019-2023 was adopted at Full Council on 19 September 2019 and performance measures would be developed to align with strategic tasks in line with the delivery of annual service plans. There were 17 tasks and 30 indicators on the strategic scorecard. The Service Manager explained that it was important to look at both the strategic and operational tasks together  as for example, operational planning performance could be viewed as poor; however, the strategic indicators, and arguably more important, in terms of the Council meeting its stated goals, are performing very strongly.

It was RESOLVED that

a)    the projected revenue position for the year with £454k of budget efficiencies and the capital underspend of £13.530m be noted

b)    the idenfiied finance and performance exceptions be noted

c)    the finance of this report to be considered at Cabinet to be considered at Cabinet in December 2019.