Agenda item

As detailed in the recommendations.

The Head of Finance presented the latest revenue budget monitoring information (Month 5) for the Council Fund and the Housing Revenue Account (HRA) 2012/13.

It was reported that the projected year end position, as estimated at Month 5, was a net overspend of £0.983m on the Council Fund and a net underspend of £0.258m on the HRA.  The in year over/(under) spends as detailed in the report reflected a number of risks and assumptions.  The Head of Finance provided explanation on the projected overspend in Corporate Services due to the impact of Welfare Reforms and Council Tax support scheme.  She also spoke of her intention to work with the Chair and Vice-Chair of the Corporate Resources Overview & Scrutiny Committee to help improve clarity of information formats contained in the appendix to the report, as agreed at the Corporate Resources Overview & Scrutiny Committee meeting the previous day.

RESOLVED:

(a)       That the overall report and management actions being taken to address the projected overspend be noted;

(b)       That the Council Fund contingency sum (overdrawn balance) as at 31 March 2013 (paragraph 5.02) be noted; and

(c)        That the projected final level of balances on the Housing Revenue Account (paragraph 6.03) be noted.