Issue - meetings

Revenue Budget Monitoring 2017/18 (MONTH 11)

Meeting: 24/04/2018 - Cabinet (Item 167)

167 Revenue Budget Monitoring 2017/18 (MONTH 11) pdf icon PDF 112 KB

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As detailed in the recommendations.


The Corporate Finance Manager introduced the Revenue Budget Monitoring 2017/18 (Month 11) 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 next report on the Council’s financial position to Cabinet would be on 17th July and would be the final outturn position following the closure of the 2017/18 accounts.


            The projected year end position was:


Council Fund:


·         Net in-year expenditure forecast an operating deficit of £0.109m;

·         The overall projected in-year position now included £1.422m due to the change in accounting policy for Minimum Revenue Provision (MRP) charges as agreed by County Council on 1st March.  This had the effect of eliminating the operating deficit with net spend projected to be £1.531 less than budget; and

·         Projected Contingency Reserve balance as at 31st March of £8.353m although that reduced to £5.948m when taking into account agreed contributions for the 2018/19 budget.


Housing Revenue Account:


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

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


The reasons for the projected variances were summarised in the appendix to the report with key significant portfolio variances explained in the report.


The report covered the latest in year forecast by portfolio; significant movements between Month 10 and Month 11 budget; achievement of planned in-year efficiencies; winter maintenance; inflation; reserves and balances and requests for carry forward of funding. 


On the Contingency Reserve, the Corporate Finance Manager explained that at the Council budget meeting on 20th February 2018 an amount of £0.900m was included within the projected level of prudent reserves for invest to save funding to help achieve future efficiencies.  After taking into account the allocation of £0.550m for the Digital Strategy – Digital Customer project, it was recommended that the remaining £0.350m be ring-fenced also for that purpose.


A report to Cabinet on 26th September 2017 on the North Wales Economic Growth Deal Bid Progress recommended delegated authority to authorise an initial revenue contribution from 2017/18 expenditure for the detailed development of the Growth Deal Bid, up to a maximum of £0.050m.  It was recommended that it be funded from the Contingency Reserve.


A recent incident resulting in hazardous waste substances having to be removed safely from a property in Flintshire highlighted the requirement for funding to meet any unforeseen emergency remediation and related support requirements.  A contribution of £0.050m from the Contingency Reserve was recommended to be earmarked for that purpose.


Councillor Thomas commented on the adverse weather conditions continuing to put pressure on the winter maintenance budget however she was pleased to announce that a recent grant of £125,000 had been received from Welsh Government (WG).




(a)       That the overall report and the projected Council Fund contingency sum as at  ...  view the full minutes text for item 167