Issue - meetings

Report of the Corporate Director (Resources, Environment and Cultural Services) presenting the forecast revenue outturn position and outlining the main variances from the original budget for both the General Fund and Housing Revenue Account.

(1)     The revenue forecast outturn position as at Quarter 1 was noted.

(2)     Virements were approved.

(3)     The position on debts was noted.

Report of the Corporate Director (Resources, Environment and Cultural Services) presenting the forecast revenue outturn position as at 30 June 2019 for the financial year 2019/20 and outlining the main variances from the original budget for the General Fund and Housing Revenue Account.

Within the General Fund £50,000 had been transferred from reserves to an earmarked reserve for potential climate related expenditure, as agreed at the Extraordinary Council meeting on 19 June, 2019 (Minute 13.4 (8) refers).

There had been only relatively minor changes to the original budget and overall a drawdown of General Fund reserves for 2019/20 of £106,000 was forecast against an original budget if £95,000.

Whilst General Fund risks and opportunities were net positive, it was too early at this stage to amend the full year forecast for these.

For the Housing Revenue Account there were no significant variances at this stage with a forecast closing balance on the account of £2.6M.

The recent Local Government Association Peer Review Challenge was extremely positive about the Council’s financial position and the recommendation made to review the budget process in the light of underspends was being actioned in preparation for the 2020/21 budget process which had now started.

RESOLVED:

(1)     That the revenue forecast outturn position as at Quarter 1 be noted.

(2)     That virements as detailed in Section 3.4 of the report be approved.

(3)     That the position on debts be noted.