Issue - meetings

To consider the report of the Assistant Director Finance.

Scrutiny Committee – Resources considered the report at its meeting on 20 June 2012 and comments will be reported.

(Report circulated)

(Minute 70)

The report of the Assistant Director Finance was submitted, advising Members of the overall financial position of the HRA & General Fund Revenue Budgets for the 2011/12 financial year.

Scrutiny Committee – Resources considered the report at their meeting on 20 June 2012 and the support and comments of members was noted.

Members were pleased to note the reduction in debt over 30 days old. The Assistant Director Finance reported that the Council proactively managed debt, achieving recovery through the courts where necessary. In response to a question regarding housing benefit overpayments, he reported that these arose for a number of reasons including changes in claimants’ circumstances.  About 90% of this amount was recovered which was very high in comparison with other authorities. 

Executive recommended that Council:-

(1)        approves the net transfer of £727,999 to Earmarked Reserves as detailed in paragraph 3.11;

(2)        approves supplementary budgets of £138,260 as detailed in paragraph 3.11;

(3)        notes Earmarked Reserves at 31 March 2012;

(4)        notes the Council Tax account and collection rate;

(5)        notes the outstanding sundry debt, aged debt analysis and debt write-off figures;

(6)        notes the creditor payments performance;

(7)        by taking into account the overall financial position of the Council as set out in paragraph 3.14, approves the General Fund working balance at 31 March 2012 at £4,258,425; and

(8)        approves the Housing Revenue Account working balance at 31 March 2012 at £5,765,423 and the Council Own Build working balance at £28,207.

The report of the Assistant Director Finance was submitted, advising Members of the overall financial position of the HRA & General Fund Revenue Budgets for the 2011/12 financial year.

Scrutiny Committee – Resources considered the report at their meeting on 20 June 2012 and the support and comments of members were noted.

Members were pleased to note the reduction in debt over 30 days old. The Assistant Director Finance reported that the Council proactively managed debt, achieving recovery through the courts where necessary. In response to a question regarding housing benefit overpayments, he reported that these arose for a number of reasons including changes in claimants’ circumstances.  About 90% of this amount was recovered which was very high in comparison with other authorities. 

RECOMMENDED that Council:-

(1)        approves the net transfer of £727,999 to Earmarked Reserves as detailed in paragraph 3.11;

(2)        approves supplementary budgets of £138,260 as detailed in paragraph 3.11;

(3)        notes Earmarked Reserves at 31 March 2012;

(4)        notes the Council Tax account and collection rate;

(5)        notes the outstanding sundry debt, aged debt analysis and debt write-off figures;

(6)        notes the creditor payments performance;

(7)        by taking into account the overall financial position of the Council as set out in paragraph 3.14, approves the General Fund working balance at 31 March 2012 at £4,258,425; and

(8)        approves the Housing Revenue Account working balance at 31 March 2012 at £5,765,423 and the Council Own Build working balance at £28,207.

(Report circulated)

To consider the report of the Assistant Director Finance – report circulated

The Assistant Director Finance presented the report advising Members of the overall financial position of the Housing Revenue Account (HRA) and General Fund Revenue Budgets for the 2011/12 financial year. There was an underspend in the HRA of £1,834,077 in the planned contribution to the Repairs Fund. This was due to a significant underspend in the HRA capital programme and the fact that the capital programme had been financed from other capital resources.  There had also been additional income from rents.  Members were updated on the earmarked reserves which included monies for the voluntary redundancy programme and the New Homes Bonus.

The Assistant Director Finance clarified the accounting position with the new contract for the sports facilities.

The Chief Executive advised that the Council did not yet know what impact the Welfare Reform would have on some residents’ ability to pay their council tax and rent and any subsequent effect this could have on debt recovery rates.

The Scrutiny Committee – Resources noted the report and requested that Council note the overview of the Resources Budget for 2011/12 and approve:-

(1)        the net transfer of £727,999 to Earmarked Reserves as detailed in paragraph 3.11 of the circulated report;

(2)        the supplementary budgets of £138,260 as detailed in paragraph 3.16 of the circulated report;

(3)        Earmarked Reserves at 31 March 2012;

(4)        the Council Tax account and collection rate;

(5)        the outstanding sundry debt, aged debt analysis and debt write-off figures;

(6)        the creditor payments performance;

(7)        having regard to the General Fund working balance of £4,285,425 at 31 March 2012, the overall financial position of the Council as set out in paragraph 3.14 of the circulated report;

(8)        the Housing Revenue Account working balance at 31 March 2012 of £5,764,423 and the Council Own Build working balance of £28,207.

(Report circulated)