Issue - meetings

Report of the Head of Corporate Resources

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 October 2019; the forecast expenditure to year end; and 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 were also presented for approval.

Decision Made:       That

(1)       in relation to the Revenue Budget:

(a)       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, be noted;

(b)       the mitigating measures being used to ensure a balanced forecast outturn position, as detailed in paragraph 2.2 to the report, excluding a forecast for deficit on Housing Benefits which will be considered at the end of the financial year should it materialise, be noted;

(c)        it be acknowledged that a comprehensive review of all forecast outturn estimates and potential remedial measures is required as part of the end of December monitoring, in order to inform decisions that may be required to ensure a balanced forecast outturn position can be achieved or to understand a potential call of General Fund Balances;

(2)       in relation to the Capital Programme:

(a)       updates to spending profiles across financial years, as detailed in paragraph 5.1.1 to the report, be reviewed;

(b)       the new schemes added to the Capital Programme under delegated authority for 2019/20, as detailed in paragraph 5.1.3 to the report, be reviewed;

(c)        the latest capital expenditure position as at 30 November 2019 to date of £10.695m, as detailed in paragraph 5.2.2 to the report, with the latest full year forecast being £24.734m, as detailed in paragraph 5.3.1 to the report, be noted;

(d)       the explanations of variances to project budgets, as detailed in paragraph 5.3.2 to the report, be noted; and

(e)       it be acknowledged that 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, as detailed in paragraph 5.5 to the report.

Reasons for the Decision:

To ensure the Cabinet is informed of the forecast outturn position for the 2019/2020 Revenue Budget as at the end of November 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  ...  view the full minutes text for item 95