Issue - meetings
Revenue Budget Monitoring 2013/14 (Month 7)
Meeting: 21/01/2014 - Cabinet (Item 156)
156 Revenue Budget Monitoring 2013/14 (Month 7) PDF 73 KB
Additional documents:
- Enc. 1 for Revenue Budget Monitoring 2013/14 (Month 7), item 156 PDF 35 KB
- Enc. 2 for Revenue Budget Monitoring 2013/14 (Month 7), item 156 PDF 32 KB
- Enc. 3 for Revenue Budget Monitoring 2013/14 (Month 7), item 156 PDF 21 KB
- Enc. 4 for Revenue Budget Monitoring 2013/14 (Month 7), item 156 PDF 26 KB
- Enc. 5 for Revenue Budget Monitoring 2013/14 (Month 7), item 156 PDF 23 KB
- Enc. 6 for Revenue Budget Monitoring 2013/14 (Month 7), item 156 PDF 20 KB
- Enc. 7 for Revenue Budget Monitoring 2013/14 (Month 7), item 156 PDF 20 KB
- Enc. 8 for Revenue Budget Monitoring 2013/14 (Month 7), item 156 PDF 18 KB
- Enc. 9 for Revenue Budget Monitoring 2013/14 (Month 7), item 156 PDF 449 KB
Decision:
As detailed in the recommendations.
Minutes:
The Head of Finance provided the most up to date revenue budget monitoring information (Month 7) for the Council Fund and the Housing Revenue Account (HRA) in 2013/14.
The projected year end position on the Council Fund, as estimated at Month 7 was:
· Net in year expenditure forecast to be £0.944m less than budget (a decrease of £0.068m on the £1.012m reported at Month 6)
· Projected contingency reserve balance at 31 March 2014 of £3.585m
The projected year end position on the HRA, as estimated at Month 7 was:
· Net in year expenditure forecast to under spend the budget by £0.117m (£0.062 m under spend reported at Month 6)
· Projected HRA balances at 31 March 2014 of £1.551m
The report provided details on the projected positive variance of expenditure against budget of £0.944m, programme of efficiencies, inflation, monitoring budget assumptions and new risks, and unearmarked reserves.
On the HRA, for 2013/14 there was an overall projected under spend of £0.117m and a projected closing balance at Month 7 of £1.551m, which at 5.4% of total expenditure satisfied the prudent approach of ensuring a minimum level of 3%.
RESOLVED:
(a) That the report be noted;
(b) That the projected Council Fund contingency sum as at 31 March 2014 be noted; and
(c) That the projected final level of balances on the Housing Revenue Account be noted.