Issue - meetings

As detailed in the recommendations.

            The Corporate Finance Manager introduced the Revenue Budget Monitoring 2018/19 (Month 6) report which provided the latest revenue budget monitoring position for 2018/19 for the Council Fund and the Housing Revenue Account.  The report presented the position, based on actual income and expenditure, as at Month 6 of the financial year if all things remained unchanged.

            The projected year end position, without new actions to reduce cost pressures and/or improve the financial return on efficiency planning and cost control, was:

Council Fund

·         An operating deficit of £0.222m (£0.303m at Month 5); and

·         A projected contingency reserve balance as at 31^st March 2019 of £7.469.

Housing Revenue Account

·         Net in-year expenditure forecast to be £0.067m lower than budget; and

·         A projected closing balance as at 31^st March 2019 of £1.165m.

The report covered the Council Fund projected position; projected position by portfolio; out of county placements; tracking of in-year risks and emerging issues; achievement of planned in-year efficiencies; other tracked risks; independent inquiry into child sexual abuse; settlement costs for historic child abuse; income; recycling income; schools – risks and impacts; other in-year issues; reserves and balances and earmarked reserves.

There were no issues raised at the meeting of Corporate Resources Overview and Scrutiny Committee the previous week.

RESOLVED:

(a)       That the overall report and the projected Council Fund contingency sum as at 31^st March 2019 be noted; and

(b)       That the projected final level of balances on the Housing Revenue Account be noted.