Issue - meetings

Revenue and Capital Budget Update 2019/20 - November

 

 

Meeting: 07/11/2019 - Cabinet (Item 67)

67 Revenue and Capital Budget Update 2019/20 pdf icon PDF 188 KB

Report of the Head of Corporate Resources

Minutes:

The Cabinet considered the report of the Head of Corporate Resources in relation to:

 

1.             the current forecast revenue outturn position for the Council for 2019/20;

2.             the current forecast on Council Tax and Business Rates collection for 2019/20; and,

3.             the monitoring position of the Council’s capital programme to the end of September 2019, the forecast expenditure to year end, variations against the approved budgets and an explanation of those variations for consideration by Members. Updates to spending profiles and proposed amendments to capital budgets necessary to ensure the efficient delivery of capital projects are also presented for approval.

 

Decisions Made:     That the Cabinet:

 

 

(1)           noted the current forecast revenue outturn position for 2019/20 and the current position relating to delivery of savings included in the 2019/20 revenue budget;

 

(2)           noted the mitigating measures being used to ensure a balanced forecast outturn position excluding a forecast deficit on Housing Benefits due to be considered at the end of the financial year should it materialise;

 

(3)           approved a supplementary revenue estimate of £0.53m funded from earmarked reserves to support the development of an outline business case for a Sefton Clean Air Zone;

 

(4)           noted updates to spending profiles across the financial year, as detailed in paragraph 5.1.1 to the report;

 

(5)           noted the new schemes added to the Capital Programme under delegated authority for 2019/20 as detailed in paragraph 5.1.3 to the report;

 

(6)           noted the updates to spending profiles across financial years as detailed in paragraph 5.1.1 to the report;

 

(7)           noted the latest capital expenditure position as at 30 September 2019 to date of £7.397m with the latest full year forecast being £26.107m as detailed in paragraphs 5.2.2 and 5.3.1 to the report;

 

(8)           noted the explanations of variances to project budgets as detailed in paragraph 5.3.2to the report;

 

(9)           noted the capital programme outputs to the end of September as detailed in paragraph 1.4 to the report; and

 

(10)        noted that the capital resources will be managed by the Head of Corporate Resources to ensure the capital programme remains fully funded and that capital funding arrangements secure the maximum financial benefit to the Council.

 

Reasons for the Decisions:

 

To ensure that the Cabinet is informed of the forecast outturn position for the 2019/2020 Revenue Budget as at the end of September 2019, including delivery of agreed savings, and to provide an updated forecast of the outturn position with regard to the collection of Council Tax and Business Rates. 

 

To keep members informed of the progress of the Capital Programme against the profiled budget for 2019/20 and agreed allocations for future years.

 

To progress any changes that are required in order to maintain a relevant and accurate budget profile necessary for effective monitoring of the Capital Programme.

 

To approve any updates to funding resources so that they can be applied to capital schemes in the delivery of the Council’s overall capital strategy.

 

In March 2017 Council approved a three-year budget plan to March 2020. The final year of  ...  view the full minutes text for item 67