Issue - meetings

(a)       That the Committee receives the revenue budget Monitoring 2016/17 (Month 7) monitoring report; and

(b)        That the Committee confirms that on this occasion there is nothing which it wishes to bring to the attention of the Cabinet.

.

The Chief Executive invited the Corporate Finance Manager to present the report.  The Corporate Finance Manager explained the purpose of the report being to provide the latest revenue budget monitoring position for 2016/17 for the Council Fund and Housing Revenue Account.  The position was based on actual income and expenditure as at Month 7, and projected forward to year-end.  He advised that the Revenue Budget Monitoring 2016/17 (Month 7) report would be presented to the next meeting of Cabinet to be held on 13 December 2016 and was appended to the report. 

The Corporate Finance Manager reported on the projected year end position for the Council Fund and Housing Revenue Account as detailed in appendices 1 and 2 to the report.  The Chief Executive reported on the areas of risk.  Referring to the Minimum Revenue Provision (MRP) the Chief Executive advised that the Council was currently reviewing its policy of accounting for MRP in conjunction with its Treasury Management Advisors which could result in a change to the amount in-year which may have a positive effect on the outturn position.  He also commented on Out of County Placements and the risk due to volatility in demand and the impacts on service costs which could not be predicted with any certainty.

Councillor Robin Guest expressed his appreciation for the timely way that budget reports and information was being regularly provided to the Committee.  He referred to the Council’s liabilities concerning historic child abuse settlements and asked if information on the cost of the settlements and the impact on the Council budget could be provided.  It was agreed that the Chief Officer (Governance)  would provide details on the cost liabilities to the Committee.  In response to a concern expressed by Councillor Guest that not all efficiencies were being achieved across the Council, the Chief Executive explained that most targets had been met and work was currently being carried out to identify if any further efficiencies could be made in-year to assist in managing the operating deficit.

RESOLVED:

(a)       That the Committee receives the revenue budget Monitoring 2016/17 (Month 7) monitoring report; and

(b)        That the Committee confirms that on this occasion there is nothing which it wishes to bring to the attention of the Cabinet.

.