Issue - meetings

To consider the report of the Chief Finance Officer.

Corporate Services Scrutiny Committee considered the report at its meeting on 23 November 2017 and its comments will be reported.

The report of the Chief Finance was submitted 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 six months.

The Chief Finance Officer advised that General Fund had an underspend of £1,456 and the HRA had an underspend of £3,416,126. The reason for the underspend on the HRA was due to capital schemes not yet being undertaken.

Corporate Services Scrutiny Committee considered the report at its meeting on 23 November 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)        outstanding Sundry Debt position as at September 2017; and

(4)        creditors’ payments performance.

To consider the report of the Chief Finance Officer.

The Chief Finance Officer presented the report that advised Members of the overall projected financial position of the HRA & General Fund Revenue Budgets for the 2017/18 after six months and to approve any additional expenditure required during the financial year.

The second quarter projection for the Housing Revenue Account showed a significant reduction in the amount taken from the working balance, resulting in an increase of £928,511 to the working balance, totalling at £9,495,965 He commented further on the key variances detailed in the report.

In response to Members’ questions, the Chief Finance Officer responded:-

• he would confirm with the Housing Department when the detailed reports for St Loyes funding would be brought forward; and
• The difference between electoral services and Democratic Representation was that democratic representation were the Members of the Council and electoral services were the team responsible for running elections.

Corporate Services Scrutiny Committee noted the report and requested Executive note and Council 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 outstanding Sundry Debt position as at September 2017; and

(4)  The creditors’ payments performance.