Issue - meetings

Overview of the General Fund Budget

 

 

Meeting: 06/12/2016 - Executive (Item 136)

136 Overview of the Revenue Budget 2016/17 pdf icon PDF 199 KB

To consider the report of the Assistant Director Finance.

 

Corporate Services Scrutiny Committee considered the report at its meeting on 24 November 2016 and its comments will be reported.

 

Additional documents:

Decision:

Agreed

 

 

That it is recommended that Council approves the:-

 

(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 September 2016;           and

 

(5)        the creditors’ payments performance.

 

Reason for Decision:

 

As set out in the report.

 

Minutes:

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 six months and to seek approval for a number of supplementary budgets.

 

The Assistant Director Finance advised Members the General Fund had an overspend of £201,245, the HRA an underspend of £339,878 and Council Own Build Houses an underspend of £3,000. The supplementary budgets to be recommended to Council were for the additional Portfolio Holders, the Valley Park Transfer to the Devon Wildlife Trust and the Safe Sleep initiative.

 

RECOMMENDED that Council notes and approves the:-

 

(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 September 2016; and

 

(5)        the creditors’ payments performance.

 

Meeting: 24/11/2016 - Corporate Services Scrutiny Committee (Item 24)

24 Overview of the Revenue Budget 2016/17 pdf icon PDF 199 KB

To consider the report of the Assistant Director Finance.

 

Additional documents:

Minutes:

The Principal Accountant (PM) 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 six months and to seek approval for a number of supplementary budgets.

 

The Principal Accountant advised Members that the General Fund had an overspend of £201,245 and the HRA an underspend of £339,878, the balance of the General Fund as at 31 March 2017 was projected to be £3,432,702, the minimum requirement for the General Fund working balance approved by Council in February 2016 was £3 million.

 

In response to Member’s questions, the Deputy Chief Executive stated that whilst there was still uncertainly regarding the retention of Business Rates the Council would work towards increasing its reserves in the long term. It was important that the City continued to grow as this would generate income for the Council in the medium to long term.

 

Corporate Services Scrutiny Committee noted the report and request and Executive note and Council approves the following:-

 

(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 September 2016; and

 

(5)        the creditors’ payments performance.