Issue - meetings
Financial Monitoring Report Quarter 3 2018/2019
Meeting: 13/02/2019 - Cabinet (Item 142)
142 Financial Monitoring Report Quarter 3 2018/2019 PDF 308 KB
Lead Member – Councillor D Minnery – Portfolio Holder for Finance
Report of the Director of Finance, Governance and Assurance (Section 151)
Additional documents:
Decision:
RESOLVED:
A. That it be noted that at the end of Quarter 3 (31st December 2018), the full year revenue forecast is a potential overspend of £0.072m;
B. To consider the impact of this on the Council’s General Fund balance.
C. To approve net budget variations of £6.866m to the 2018/19 capital programme, detailed in Appendix 3/Table 6, and the re-profiled 2018/19 capital budget of £65.856m.
D. To accept the capital expenditure to date of £28.961m, representing 44% of the revised capital budget for 2018/19, with 75% of the year having elapsed.
E. To approve that Shropshire Council act as accountable body on behalf of the Shropshire & Telford & Wrekin One Public Estate programme.
Minutes:
The Leader introduced a report from the Director of Finance, Governance and Assurance detailing the projected revenue expenditure for the whole of 2018/19 as at Quarter 3.
Responding to a Member’s comment about the need for the spending and recruitment freeze to achieve a balanced budget, the Leader observed that the very nature of local government had led to this action being necessary. He congratulated members and officers for achieving a neutral budget, which was an excellent achievement in view of the circumstances.
RESOLVED:
A. That it be noted that at the end of Quarter 3 (31st December 2018), the full year revenue forecast is a potential overspend of £0.072m;
B. To consider the impact of this on the Council’s General Fund balance.
C. To approve net budget variations of £6.866m to the 2018/19 capital programme, detailed in Appendix 3/Table 6, and the re-profiled 2018/19 capital budget of £65.856m.
D. To accept the capital expenditure to date of £28.961m, representing 44% of the revised capital budget for 2018/19, with 75% of the year having elapsed.
E. To approve that Shropshire Council act as accountable body on behalf of the Shropshire & Telford & Wrekin One Public Estate programme.