Issue - decisions
Revenue and Capital Monitoring - 30 September 2018
09/11/2018 - Revenue and Capital Budget Monitoring 2018/19 to 30 September 2018
The Cabinet considered a report of the Strategic Director (Finance & Resources) setting out the Council’s revenue and capital budgetary performance as at September 2018.
Recommended:
In respect of the 2018/19 Revenue Budget Monitoring, as set out in Appendix 1 to the submitted report:
1. That the forecast outturn for the General Fund and Housing Revenue Account, as at September 2018, be noted.
1.2 That the planned management actions of £3,230,000 to achieve that forecast outturn, be noted.
1.3 That the planned budget transfers (virements) of £2,610,170, be approved.
1.4 That the potential transfer of £1,293,000 from the Business Transformation Reserve in respect of the forecast General Fund overspend unless further management action and savings are identified to rebalance the budget, be noted.
1.5 That the potential transfer of £93,000 to the HRA Capital Investment Reserve in respect of the forecast HRA underspend, be noted.
In respect of the 2018/19 Capital Budget Monitoring, as set out in Appendix 2 to the submitted report:
1.6 The expenditure to date and the forecast outturn as at September 2018 and its financing, be noted.
1.7 That the requested changes to the 2018/19 capital programme as set out in Section 2 of Appendix 2, be approved.
Reasons for decision:
The regular reporting of Revenue and Capital Budget Monitoring information provides detailed financial information to Councillors, senior officers and other interested parties on the financial performance of the Council.
Other options:
The Council could choose to monitor its budgetary performance against an alternative timeframe but it is considered that the reporting schedule provides the appropriate balance to allow strategic oversight of the budget by councillors and to manage the Council’s exposure to financial risk.
Note: This is a Council Function
Eligible for call-in to: All three Scrutiny Committees
Cabinet Member: Cllr Lamb
