Issue - meetings

Revenue Budget Monitoring 2017/18 (MONTH 6)

Meeting: 21/11/2017 - Cabinet (Item 89)

89 Revenue Budget Monitoring 2017/18 (MONTH 6) pdf icon PDF 107 KB

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As detailed in the recommendations.


The Corporate Finance Manager introduced the Revenue Budget Monitoring 2017/18 (Month 6) report which provided the current revenue budget monitoring position for 2017/18 for the Council Fund and the Housing Revenue Account.  The report presented the position, based on actual income and expenditure, and projected how the budget would stand at the close of the financial year if all things remained equal.


            The projected year end position, without mitigation to reduce cost pressures and improve the yield on efficiency planning, was:


Council Fund


·         Net in year expenditure forecast to be £1.147m more than budget; and

·         Projected contingency reserve balance as at 31st March 2018 of £3.935m.


Housing Revenue Account


·         Net in year expenditure forecast to be £0.035m higher than budget; and

·         Projected closing balance as at 31st March 2018 of £1.081m.

The report covered the latest in year forecast by portfolio; tracking of in year risks and emerging issues; inflation; and reserves and balances.


At the meeting of Corporate Resources Overview and Scrutiny Committee the previous week, comments had been made on (1) the need for clarify of the language used in the report on overspends and underspends; and (2) on the underspend on the Council Tax Reduction Scheme, an investigation take place and the budget allocation be remodelled if necessary.


Councillor Thomas commented on the unexpected increase in Street Lighting which had an effect on the budget, as did the reduction in the Single Environment Grant (SEG).  Councillor Shotton referred to the comments made at the recent Environment Overview and Scrutiny Committee on the overspend position which demonstrated the challenges faced by the authority that needed to be understood by all members of the Council.




            (a)       That the overall report and the projected Council Fund contingency sum

as at 31st March 2018 be noted; and


            (b)       That the projected final level of balances on the Housing Revenue

Account (HRA) be noted.