Issue - meetings

That:

1)        the 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 General Fund carry forward requests of £2,043,820, as set out in Appendix B to the report, be agreed;

3)        the significant reduction in the overspend on the general fund revenue account achieved since the last report be noted; substantially this is a result of the continuous improvement work in the Adults’ Social Care and Customer and Localities directorates.

The Executive considered a report setting out the revenue outturn position for the Council for the 2018/19 financial year.

The Executive Member for Finance and Housing informed the meeting that at the outturn position for the General Fund (revenue) was reporting a total spend of £129.03m against a planned budget spend of £128.25m resulting in an adverse variance of £0.78m which was only 0.61% of the total budget.  In relation to the Housing Revenue Account this was showing an adverse balance of £30k; which in comparison with the total budget was relatively small. 

Councillor Kaiser advised that the Schools’ Block had a variance of £1.05m which was less than 1% of the total budget of £130m.  This figure included the cost of special needs which increased by over 15% last year. 

RESOLVED that:

1)        the 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 General Fund carry forward requests of £2,043,820, as set out in Appendix B to the report, be agreed;

3)        the significant reduction in the overspend on the general fund revenue account achieved since the last report be noted; substantially this is a result of the continuous improvement work in the Adults’ Social Care and Customer and Localities directorates.