Decision details

The report of the Head of Treasury Services was submitted, informing Members of the overall final financial performance of the General Fund Revenue Budget for the 2008-09 financial year ended 31 March 2009.

Scrutiny Committee – Resources considered the report at their meeting on 17 June 2009 and the support and comments of members were noted.

The Head of Treasury Services identified the main reasons for the overspend on the approved budget, citing the  concessionary travel scheme, reduced investment interest, and a reduction in income from parking charges, planning fees and the  Archaeological Field Unit as major contributory factors. 

Executive was pleased to note the overall increase in the HRA working balance and the relatively small overspend on the General Fund Revenue Budget. They also welcomed the improved Council tax collection rate which was contrary to the national trend.

Executive recommended that:-

(1)        the report be noted;

(2)        the net transfer of £1,020,596 from Earmarked Reserves as detailed in paragraph 3.14 of the report be approved;

(3)        supplementary budgets totalling £456,220 be approved as detailed in paragraph 3.11;

(4)        Earmarked Reserves at 31 March 2009 be noted;

(5)        the Council Tax account and collection rate be noted;

(6)        the outstanding sundry debt and aged debt analysis be noted;

(7)        the Creditor Payments performance be noted;

(8)        by taking into account the overall financial position of the Council as set out in paragraph 3.10 of the report, the General Fund working balance as at 31 March 2009, be approved at £5,583,113; and

(9)        the Housing Revenue Account working balance at 31 March 2009 is approved at £2,858,265.