Issue - meetings

To consider the report of the Assistant Director Finance.

Scrutiny Committee – Resources considered the report at its meeting on 19 November 2014 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 the General Fund Revenue Budgets for the 2014/15 financial year after six months.

The Assistant Director Finance referred to the overall position in respect of the General Fund and the working balance which was projected to rise from £3,364,640 to £3,469,275.  He brought to Members’ attention the variance in the Housing Revenue Account (HRA) which was due to a more realistic budget being set and the on-going work taking place to reduce void times, this work would now be extended to the void times in private sector leasing.

Members were advised of the supplementary budgets and two further requests for funding including a sum of £80,000 for the appointment of a Quantity Surveyor and a Construction Design and Management Consultant in respect of the Leisure Complex Project.  An additional £11,500 was also required to develop the Business Case for the Channel Shift Programme to include the creation of a temporary post. 

In response to a Member’s question, the Assistant Director Finance clarified that two vacant sweeper’s posts had been deleted from the establishment. The saving of £255,000 in the Customer Service Centre were prior to those expected as a result of the Channel Shift Programme.

Scrutiny Committee – Resources considered the report at its meeting on 19 November 2014 and the support and comments of the Members were noted.

RECOMMENDED that Council approve the:-

(1)        General Fund forecast financial position for the 2014/15 financial year;

(2)        HRA forecast financial position for 2014/15 financial year;

(3)        additional supplementary budgets listed in Appendix C;

(4)        outstanding Sundry Debt position as at September 2014;

(5)        creditors’ payments performance; and

(6)        Council Tax and Business rates collection performance.

To consider the report of the Assistant Director Finance.

The Assistant Director Finance presented a report which advised Members of the overall projected financial position of the HRA & General Fund Revenue Budgets for the 2014/15 financial year after six months. He referred to the overall position in respect of the General Fund and the working balance which was projected to rise from £3,364,640 to £3,469,275.  He referred to the supplementary budgets and highlighted two further requests for funding including a sum of £80,000 for the   appointment of a Quantity Surveyor and a Construction Design and Management Consultant in respect of the Leisure Complex Project.  An additional £11,500 was also required to develop the Business Case for the Channel Shift Programme to include the creation of a temporary post. 

A Member sought a breakdown of an overspend of  £111,570 in relation to the budgeted repair and hand back costs in respect of the General Fund Housing Property, which was made up of £99,680 for repair and hand back costs, and £27,390 as part of a reduction in rental income. This was partially offset by £15,500 savings from vacant posts pending a restructure of Housing Services.

The Assistant Director Finance replied to Members’ questions which referred to a summary of savings of £25,000 under the democratic representation budget, which related to the budget being set prior to the recommendation for approval of the Members’ Allowances.  This had not progressed to the final savings stage, but the budget had remained in place. A saving was also attributed to a change in the outgoing mail delivery service, which had, in part, offset the overspend.  He also responded to a Member’s comment on the improved state of the Council’s cash flow, which was in part a result of a change in the Business Rate Relief Scheme which had helped to generate additional funds as well as savings from the New Homes Bonus. 

Scrutiny Committee – Resources noted the report and requested that Council approve the following (where applicable):

(1)          General Fund forecast financial position for the 2014/15 financial year;

(2)          Housing Revenue Account forecast financial position for 2014/15 financial year;

(3)        additional Supplementary Budgets listed in Appendix C;

(4)        outstanding Sundry Debt position as at September 2014;

(5)        Creditors’ Payments performance; and

(6)        Council Tax and Business Rates collection performance.