Issue - meetings

To consider the report of the Chief Finance Officer.

Corporate Services Scrutiny Committee considered the report at its meeting on 28 September 2017 and its comments will be reported.

The Chief Finance Officer presented the report advising Members of the overall projected financial position of the Housing Revenue Account (HRA) and General Fund Revenue Budgets for the 2017/18 financial year after three months and to seek approval for a number of supplementary budgets.

Members were advised that the Housing Revenue Fund expenditure was significantly lower than the £2,487,615 planned due to delays in the capital programme projects. The General Fund had an over spend of £217,024 against its revised budget, this was related to predicted service income that had not been delivered. Services were working on addressing this short fall and progress would be reported in the next quarter.

The Chief Finance Officer discussed the supplementary budgets which would provide money to pay for temporary staff contracts to assist with cleaning graffiti around the city.

Members acknowledged the need to address the issue of graffiti within the City whilst recognising that it came at a cost.

Corporate Services Scrutiny Committee considered the report at its meeting on 28 September 2017 and its comments were reported.

RECOMMENDED that Council notes and approves the:-

(1)        General Fund forecast financial position for the 2017/18 financial year;

(2)        HRA forecast financial position for 2017/18 financial year;

(3)        additional supplementary budgets listed in Appendix C;

(4)        outstanding Sundry Debt position as at August 2017; and

(5)        creditors’ payments performance.

To consider the report of the Chief Finance Officer.

The Chief Finance Officer presented the report which advised Members of the overall projected financial position of the Housing Revenue Account and the General Fund Revenue for the 2017/18 financial year after three months. The report also sought approval for a number of supplementary budgets

He discussed the financial summary, highlighting that the Housing Revenue Fund expenditure was significantly lower than the £2,487,615 planned take from the working balance. This had resulted in an increase of £725,335 to the working balance.

The General Fund had an over spend of £217,024 against its revised budget. He noted that savings would be required in various services, and that budgets were being examined to reduce expenditure. Members were informed that repayments of debt and net interest would be reduced due to lower capital spending.

The Chief Finance Officer discussed the supplementary budgets which would provide money to pay for temporary staff contracts to assist with cleaning graffiti around the city.

In response to questions from Members, the Director and Chief Finance Officer responded:-

·         Contracts would be fixed term to address the City’s need as part of an ongoing consultation phase;

·         The Housing Assets underspend was a result of tenders above budget and the decision had been taken not to proceed;

·         The temporary staff would be agency staff as the Council use agency staff to fill certain roles. It was intended to replace the use of agency staff with permanent contracts where possible;

·         Any proposals to address the Place Scrutiny Committee overspend would go on the budget monitoring report and be reported to Scrutiny Members.

The Corporate Services Scrutiny Committee noted the report and requested the Executive to note the report, and Council to note and approve the following:

(1)  The General Fund forecast financial position for the 2017/18 financial year;

(2)  The HRA forecast financial position for 2017/18 financial year;

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

(4)  The outstanding Sundry Debt position as at August 2017;

(5)  The creditors’ payments performance;