Issue - meetings

To consider the report of the Assistant Director Finance.

Corporate Services Scrutiny Committee considered the report at its meeting on 29 September 2016 and its comments will be reported.

The report of the Assistant Director Finance was submitted advising Members of the overall projected financial position of the Housing Revenue Account (HRA) and General Fund Revenue Budgets for the 2016/17 financial year after three months and sought approval for a number of supplementary budgets. The General Fund had an underspend of £232,000 and the HRA an overspend of £26,188.

The Assistant Director Finance advised Members of the position with regards to the Net Interest and Repayment of debt variations. The additional supplementary budgets being requested from Council were £27,900 to support the production of a staff survey and the subsequent actions arising from the responses and £350,000 to enable a detailed feasibility study into the benefits of setting up Housing Development Company. He clarified that the table at 8.4.2 indicated the split in aged debt between Housing Benefit and the rest of the services and showed that Housing Benefit made up two thirds of the outstanding sundry debt. 

Corporate Services Scrutiny Committee considered the report at its meeting on 29 September 2016 and its comments were reported.

RECOMMENDED that Council notes and approves the:-

(1)        General Fund forecast financial position for the 2016/17 financial year;

(2)        HRA forecast financial position for 2016/17 financial year;

(3)        The additional supplementary budgets listed in Appendix C;

(4)        outstanding Sundry Debt position as at June 2016; and

(5)        creditors’ payments performance.

To consider the report of the Assistant Director Finance.

The Assistant Director Finance presented the report to advise Members of the overall projected financial position of the Housing Revenue Account (HRA) and General Fund Revenue Budgets for the 2016/17 financial year after three months and sought approval for a number of supplementary budgets. The General Fund had an underspend of £232,000 and the HRA an overspend of £26,188.

The Assistant Director Finance advised Members of the position with regards to the Net Interest and Repayment of debt variations. The additional supplementary budgets being requested from Council were £27,900 to support the production of a staff survey and the subsequent actions arising from the responses and £350,000 to enable a detailed feasibility study into the benefits of setting up Housing Development Company.

The Chair welcomed the reduction in the trend of the outstanding debt.

The Assistant Director Finance commented that Housing Benefit made up two thirds of the outstanding sundry debt and, owing to the circumstances of the debtors, this took much longer to recover. This debt had increased as a result of real time information and it was anticipated that there would be a slow downward trend in this area of debt.

Corporate Services Scrutiny Committee noted the report and requested Executive note and Council approves the following (where applicable):-

(1)        General Fund forecast financial position for the 2016/17 financial year;

(2)        The HRA forecast financial position for 2016/17 financial year;

(3)        The additional supplementary budgets listed in Appendix C;

(4)        The outstanding Sundry Debt position as at June 2016; and

(5)        The creditors’ payments performance;