Agenda item

Revenue Budget Monitoring 2012/13 (Month 6)

Decision:

As detailed in the recommendations.

Minutes:

The Head of Finance presented the latest budget monitoring information (Month 6) 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 6, was a net overspend of £0.714m on the Council Fund and a net underspend of £0.349m 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 explained that it was the intention of Management to contain the currently projected variation within the overall agreed Council budget for the year. As part of the ongoing work to develop the Medium Term Financial Plan (MTFP), opportunities to generate efficiencies were being explored including those that might have a positive impact on the 2012/13 projected outturn.

The Head of Finance provided an explanation on the likely future requirement to provide for Flintshire County Council’s share of liability relating to a scheme of arrangements set up with Municipal Mutual Insurance Ltd (MMI) in 1992.

The Cabinet Member for Housing reported that as a result of the projected underspend within the HRA, the number of kitchen replacements had been increased to 1,600 together with the number of bathroom replacements almost doubling. Cabinet welcomed this information and asked that it be provided to the local press to inform tenants of the additional works being carried out.

The Leader of the Council thanked the Cabinet Member for Housing for the update and commented on the positive impact this would have to show Flintshire County Council’s commitment to meeting the Welsh Housing Quality Standard.

RESOLVED:

(a) That the overall report and the 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

Supporting documents: