Issue - meetings

Revenue Monitoring 2017/18 - end of December 2017

Meeting: 25/01/2018 - Executive (Item 82)

82 Revenue Monitoring 2017/18 - end of December 2017 pdf icon PDF 151 KB

Additional documents:

Decision:

That:

 

1)    The forecast outturn position of the Revenue Budget and the level of balances in respect of the General Fund, Housing Revenue Account, Schools Block and the Authority’s investment portfolio be noted;

 

2)    The potential General Fund carry forward requests of £470k, as set out in Appendix B to the report, be noted.

Minutes:

The Executive considered a report which set out Quarter 3 monitoring data relating to Revenue expenditure, the General Fund, the Housing Revenue Account and the Schools Block.

 

The Executive Member for Finance introduced the report and stated that the General Fund was reporting a net adverse variance of £1.337m against planned spend of £131m. The adverse variance was mainly due to a number of issues relating to People Services including pressures in adult social care packages, agency staffing and the cost of home to school transport. A recovery plan was in place to ensure that financial controls would be closely monitored and ongoing service decisions risk assessed and taken in the context of the current financial position.

 

The report stated that the Housing Revenue Account was showing a net favourable variance of £6k against planned spend of £0.872m and the Schools Block was reporting a net adverse variance of £0.730m.

 

The report also gave details of potential General Fund carry forward requests totalling £470k and stated that the Council’s investment portfolio included current investments of £85m.

 

In response to a question from Councillor Norman Jorgensen about underspending care budgets in Children’s Services, Councillor Ashwell explained that this was the result of an invest to save approach. In relation to foster carers, for example, the cost of recruiting foster carers directly was about half as much as using an agency.

 

RESOLVED That:

 

1)        the forecast outturn position of the Revenue Budget and the level of balances in respect of the General Fund, Housing Revenue Account, Schools Block and the Authority’s investment portfolio be noted;

 

2)        the potential General Fund carry forward requests of £470k, as set out in Appendix B of the report, be noted.