Issue - meetings

To consider the report of the Assistant Director Finance.

Scrutiny Committee – Resources considered the report at its meeting on 19 September 2012 and comments will be reported.

(Report circulated)

(Minute97)

The report of the Assistant Director Finance was submitted, advising Members of the overall projected financial position of the General Fund Revenue Budget and Housing Revenue Account after three months, for the 2012/13 financial year.  He reported that the Service Committee budgets showed a small forecast overspend of £35,430 and outlined the main variances across the Council.

Scrutiny Committee – Resources considered the report at the meeting on 19 September 2012 and the comments and support of members were noted.

Executive recommended to Council to approve:

(1)        the General Fund forecast position for the 2012/13 financial year;

(2)        the HRA forecast financial position for the 2012/13 financial year;

(3)        the outstanding Sundry Debt position as at June 2012; and

(4)        the creditors’ payments performance.

The report of the Assistant Director Finance was submitted, advising Members of the overall projected financial position of the General Fund Revenue Budget and Housing Revenue Account after three months, for the 2012/13 financial year.  He reported that the Service Committee budgets showed a small forecast overspend of £35,430 and outlined the main variances across the Council.

Scrutiny Committee – Resources considered the report at the meeting on 19 September 2012 and the comments and support of members were noted.

RECOMMENDED to Council to approve:

(1)        the General Fund forecast position for the 2012/13 financial year;

(2)        the HRA forecast financial position for the 2012/13 financial year;

(3)        the outstanding Sundry Debt position as at June 2012; and

(4)        the creditors’ payments performance.

(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 projected financial position of the General Fund Revenue Budget and Housing Revenue Account after three months, for the 2012/13 financial year.

He advised that the Service Committee budgets showed a forecast overspend of £35,430 against a revised Service Committee Net Expenditure budget of £13,718,210 and an overall overspend of £41,594 against General Fund Expenditure. He outlined to Members the individual budgets in respect of each of the Scrutiny Committees, the outstanding sundry debt, debt write-offs and creditor payments performance.

In response to Members, the Assistant Director Finance clarified that the Museums Service budget was overspent due to higher than expected utilities bills and the higher than anticipated estimate for the Non Domestic Rate bill. The Council was appealing against this and was hopeful that some reduction in the bill would be made. The Council was aware of the potential risks regarding the changes in welfare reform and the pressures that this could cause with the collection of housing rent and council tax benefit, work was being undertaken in conjunction with the Citizens Advice Bureau on measures that could help with money management for residents with difficulties.

The Scrutiny Committee – Resources noted the report and requested that Council approve the:-

1)         General Fund forecast financial position for the 2012/13 financial year;

2)         HRA forecast financial position for 2012/13 financial year;

3)         outstanding Sundry Debt position as at June 2012; and

4)         creditors’ payments performance.

(Report circulated)